Important steps for powers of attorney

On Behalf of | Jan 4, 2018 | Powers Of Attorney

Careful estate planning is a necessary part of how Nevada residents can make sure their interests are protected. They should take steps now to make plans for unexpected situations in which they may not be able to make important decisions on their own. Having legal documents in place, such as powers of attorney, can help prevent conflict among family members and provide a guide for how to decide on matters related to the health or wealth of the incapacitated loved one.

All important legal documents should be in a safe place that can be easily accessed by the right people. The document should include crucial information regarding personal, medical, legal and financial matters and detail who should have access to what. The contact information for immediate family members and any other people that have been designated to take part in making decisions, such as lawyers, wealth managers, agents and accountants, should also be included.

Details are important as they give representatives the necessary information they need to act on the behalf of another person. Having the documents related to medical, financial and legal matters in one place is also helpful. Medical documents should include directives, insurance card numbers and health care powers of attorney. Recent statements from all financial accounts in addition to tax returns and beneficiary designation records should provide any pertinent financial information. If the legal documents provided are only copies, there should be an indication of where the original forms are located.

An attorney that practices estate planning law may assist clients with drafting the appropriate powers of attorney forms to safeguard their interests in the event they are incapacitated. A lawyer may explain how individuals that were granted health care powers of attorney may make decisions regarding health care, including what type of medical treatment should be administered.