As individuals age, they may find themselves contemplating their eventual need for assistance during the end of their lives. Sometimes, a person may become incapacitated and need to go into a nursing home or other long-term care. While one is there, he or she may need someone to manage his or her financial affairs. A power of attorney can assist Florida residents with these matters.
When a person takes the initiative to select a power of attorney while he or she is still well, the person retains a lot more control over what the agent may do. The principal is able to choose the exact individual who he or she wishes to represent him or herself and act on his or her behalf. The principal can also select the range and reach of the agent’s powers and assign exactly the powers one believes are appropriate and needed.
In the absence of a designated power of attorney, a court may have to appoint one. The individual selected may not be the one that the principal would have chosen, and the power assigned may differ from what that person would have wanted. In order to maximize control over one’s own life and financial affairs, including how property will be handled in the event that one requires long-term care, it is beneficial to have a power of attorney already set up.
In Florida, long-term care planning issues are dealt with every day by young and old alike. Individuals who wish to cover their anticipated future needs may choose to set up a power of attorney. For more assistance, one may choose to hire an elder law attorney to begin the process.
Source: readingeagle.com, “Aging Well: Why do you need a power of attorney?“, Sean D. Curran, April 8, 2018