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A legal-ese term you may have heard is 'Power of Attorney.' If you are anything like Morrical Legal's marketing gal, you may read that and immediately skip over it. It sounds technical and like something that really isn't necessary. 'Why do I need a document to give an attorney power,' you may think. It's not quite what is sounds. BUT, it is way more important for everyone than you may know.
A Power of Attorney is a document that allows someone to access information and make decisions for you when you cannot or when you are unavailable. Think, what happens if you are in the hospital and can't make healthcare decisions yourself? Who would pay your bills for you?
These come in two forms: financial and medical. A Power of Attorney can be effective immediately upon signing or be effective if you become unable medically or mentally to make decisions on your own behalf.
If you have parents who are getting older, a Power of Attorney can allow medical and financial personnel to speak with you and for you to make decisions for your parents.
If you are married and your spouse cannot always be with you to sign documents that need both of your signature, a Power of Attorney allows one spouse to sign for both persons.
If you have a child who just turned 18, a Power of Attorney allows you to continue to speak to financial and medical personnel for your child.
So, if you want to plan for all possibilities, even those that you may not want to think about, a Power of Attorney is a great idea. Your family will thank you!