When you give someone power of attorney, you place great trust in them. They will make decisions on your behalf relating to your finances or healthcare. You are counting on them to act as you would, implementing your wishes or deciding what they think is best. Therefore, it is crucial that you are very careful about whom you choose when creating your estate plan. Here are four factors to consider in selecting a power of attorney.
Whether the Person Can Communicate
Your family’s unity may be challenged if you are declining. Each family member may have their own opinion about what should happen, whether it is managing your health or finances, but a power of attorney has the final say.
The person must explain their decisions to the rest of the family and the basis for them. They will need to keep family members informed of what they are doing. How they communicate can mean whether your family can remain at peace during difficult times. Communication can be both the words that they use and their ability to keep in touch in the first place.
Whether They Can Make Decisions Under Pressure
Sometimes, your power of attorney has to make difficult medical decisions. They may have to determine whether to allow a doctor to perform a certain surgical procedure when your health is precarious.
It is always hard to make any type of medical decision. The more complex your health situation is, the more challenging it is to decide. If your wishes are not spelled out on paper, the power of attorney may have to decide whether to stop treatments.
Above all, your power of attorney must think clearly under pressure. You should select someone who can stay calm.
Their Level of Healthcare and Financial Literacy
Doctors will do the best that they can to explain the medical situation. They will lay out the options for the power of attorney to consider before deciding. Ultimately, the final decision is for the power of attorney to make. They must understand what the doctor says to make the best decisions.
In addition, a power of attorney may be called upon to manage your finances. They would have to take care of your needs while preserving your assets for the future. They must know financial matters and best practices, including paying bills and investments.
Someone Who Is Respected in Your Family
The family will have to follow whatever a power of attorney decides; removing someone who already has this power is complicated. The family must accept decisions, but they may have concerns.
Someone who commands respect from other family members may be better able to get everyone else on board with their decisions. This is better for the long-term health of your family. Although you want someone who can take other’s opinions into account, you also need a person whose words will carry meaning within the family.
Contact Our Virginia Beach Estate Lawyers at Anchor Legal Group, PLLC to Learn More
Our Virginia Beach estate lawyers at Anchor Legal Group, PLLC assist families with crucial estate planning issues. We can answer your questions and draft the necessary documents to ensure they are effective when needed. Call us at 757-LAW-0000 or complete our online form to schedule an initial consultation. Located in Virginia Beach, we serve clients in Chesapeake, Norfolk, Suffolk, Portsmouth, Newport News, Hampton, Williamsburg, and Eastern Shore, Virginia