When you are working on your estate plan, one thing you will need to decide on is who to have as your durable power of attorney agent. Your agent under this document will represent you in whatever capacity you agree to. For example, they may be the person to make decisions on your health care when you can’t make those decisions yourself, or they make take control of your financial concerns so that you can focus on other aspects of your life.
Keep in mind that this power of attorney does not last after your death. At that time, an administrator for the estate, known as an executor, is appointed instead. So, when you think about who you want to help you in life, that’s who you’d want to put as your principal agent through the power of attorney document.
Can you have more than one power of attorney?
Yes, you can have multiples. For example, you may appoint a power of attorney agent for your health care needs and another for financial concerns. Why? Consider if you have a child who is a nurse or doctor. You may want them to be your agent if you need medical care. On the other hand, you might want someone else to take care of your financial needs, like paying for bills or keeping track of your accounts.
If you don’t yet have a power of attorney, your attorney can talk to you more about their importance and what kinds of power of attorney arrangements you may be interested in having. It’s essential that this is part of your estate planning discussion because you want to take steps to protect yourself if you’re unable to care for yourself.
