Some people who are creating an estate plan focus on making sure their assets are distributed according to their wishes. They should also remember that they need to include end-of-life plans in the estate plan so they can have a say in what happens if they become incapacitated.
Setting up power of attorney designations is crucial when you’re creating an estate plan. The power of attorney for finances will pay your bills and handle all financial decisions for you. The power of attorney for health care will make medical decisions for you.
Making sure you name someone to handle these tasks who can do so appropriately is important. Ideally, you’ll choose someone who lives within a reasonable distance of you so they can show up in person when necessary. Some qualities you should look for when you’re trying to name someone include:
Able to act in your interests
You need a power of attorney who can act in your best interests. They can’t be selfish at all because they must follow your wishes. Regardless of which type of power of attorney they have, you should speak to them to ensure they understand what you want.
Able to make decisions under pressure
Decisions often have to be made during stressful situations. You need someone who can think clearly when this is going on. They can’t let their emotions determine what’s going to happen. Instead, they need to use logic and their knowledge of what you want to happen in order to make the decisions that are best for you.
Able to be assertive
There might be times when your power of attorney will have to be assertive to protect your rights. Having someone who can do this can help to ensure that you’re taken care of when you need to be.
Making sure your estate plan is comprehensive can help to protect your interests now. It will also make things easier for your loved ones if you become incapacitated or die. Make sure you have the plan set so it reflects your wishes.
