Granting power of attorney to a third party may be a powerful estate planning tool in Nevada. Those who are thinking about giving power of attorney to others may wish to learn more the three common powers of attorney and what they entail. Understanding how and when these documents take effect may help an individual protect his or her assets and have more say over his or her medical treatment.
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.
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.
The average Nevada resident would most likely prefer to die peacefully in his or her sleep after living a full life. This will be the case for some; however, others will be faced with sudden accidents and illnesses that can at times leave them unable to state their preferences. When this happens, if the individual has given a trusted person a health care power of attorney and has established a living will, the decision-making process can align with the individual's wishes.