Many Nevada residents have older parents who will likely need help managing money and making health care decisions as they age. One way to ensure that this will be handled properly is to suggest that they grant a power of attorney to a child, close friend or other trusted individual.
Nevada law allows for one person to name another to act on his or her behalf by means of a power of attorney. The reasons behind making a power of attorney are as diverse as the people who make them. They can be tailored for a limited purpose, like selling a particular asset, or they may address a broad area, like making health care decisions.
Many residents of Nevada may be concerned about the health care decisions that would be made on their behalf if they were to become incapacitated by illness or injury. A living will communicates the health care wishes of an individual, but a health care power of attorney actually designates another person to make these important decisions. This person could be authorized to stipulate the forms of treatment to be employed and when the decision would be made to withhold treatment.
Under Nevada law, powers of attorney come in two forms. The first are called conventional powers of attorney, the second, durable powers of attorney. Which form is best will depend on the grantor's desires and circumstances. A power of attorney is a form of legal permission allowing another to act on a person's behalf. The person who holds the power of attorney is known as the attorney in fact. He or she must have reached the age of majority, as managing contractual obligations and entering into contracts are among the duties performed by attorneys in fact. The person chosen may, but need not, be a relative and he or she must agree to the task.