Most individuals assume that they will be able to make their own financial and medical decisions for many years. The thought of being unable to do so just doesn’t seem possible. However, in today’s fast-paced world, the unthinkable can happen very quickly. Suddenly, a Nevada resident is unable to make decisions for him or herself. In this case, an established power of attorney can make managing that person’s affairs much easier.
By establishing a power of attorney, the individual is in essence giving another individual to ability to make financial decisions for him or her. In the event that the individual becomes incapacitated, this document will allow financial transactions to take place without the time and expense of going to court to have someone appointed. Another benefit of the power of attorney comes to light when one spouse travels extensively. If the other spouse has the power of attorney document, he or she is able to conduct business for the family as if both parties were present.
An additional benefit for power of attorney that the individual should consider is a health care power of attorney. This document states the individual’s wishes regarding medical care and end of life directives. Again, a qualified individual is given the ability to make decisions for the person if he or she is unable to do so.
Residents of Nevada can find their lives changing without warning. By being prepared for the next phase of their lives, they help to ensure that their family and estate are taken care of. Establishing a power of attorney can be one method of achieving such means.
Source: standard.net, Get things organized for an orderly departure, Nicole Anzia, Feb. 14, 2014