Why Do I Need a Power of Attorney?

By: Aaron W. Saoud, J.D., F.A., Licensed to practice law in FL & MI

A Power of Attorney is, at its core, a fairly straightforward document: You are allowing someone, your "agent", to make decisions for you, to be used especially when you are otherwise unavailable to do so yourself. The breadth and extent of these "powers" are going to be specifically enumerated in your document, but the importance of these are to ensure your welfare is safeguarded during times of potential incapacity or illness. In our opinion, EVERYONE should have a Power of Attorney in place -- no matter how young or old, rich or poor. Your welfare, and that of your family, is too important to leave to chance as to who will be making decisions for you. Moreover, you will want to give specific instructions to your "agent" to allow for a seamless transition of your decision-making, even if temporary and for a limited period of time. Having a well-drafted POA is paramount -- we encourage you to not put off getting this document in place. The beginning of the year is a great time not only to visit / revisit your Power of Attorney, but also all of your estate planning documents.