Incapacitation is a potential risk for everyone. It can sometimes happen gradually, such as if someone has a form of dementia and slowly loses the ability to take care of themselves and make their own decisions. But it can also happen suddenly, such as when a person has a heart attack or a stroke.
One way to address this in advance is to use a springing power of attorney. A POA is an estate planning document giving an agent the ability to act on another person’s behalf. A legal power of attorney often addresses financial considerations or access to assets, for instance. A medical power of attorney addresses future medical decisions that may need to be made while coordinating with healthcare providers.
When does it go into effect?
The benefit of a springing power of attorney is that it only goes into effect when certain conditions have been met. That condition is often listed as incapacitation.
In other words, a person could draft an estate plan today and include a medical power of attorney authorizing one of their adult children to act as their agent and make medical decisions. But that parent does not have to give up control over those medical decisions at the time they draft the documentation.
Instead, they note that the agent only gains that power if they become incapacitated. This way, there is a plan in place if they suddenly have a stroke or suffer from a degenerative brain condition. They have taken proactive steps to ensure that their selected agent is in charge and will look out for their best interests if they lose the ability to do so themselves.
Creating a complex estate plan
Many people think of financial assets when drafting an estate plan, and it is important to address them. But this helps show how healthcare planning can also be part of a more comprehensive and complex estate plan. It is crucial for people to understand all of the options they have.
