How To Choose The Right Person For Your Power Of Attorney

Choosing an agent under your power of attorney is an important step of estate planning.

The decisions you make during your life will affect your loved one's lives after you pass or become incapacitated. Therefore, it is crucial to think about not just your future but the future of the people closest to you.

Thinking about estate planning is one way you can ensure that your family is taken care of after you die or become incapacitated. It not just about drawing up a will or establishing a living revocable trust; it is much more than that. It helps this sometimes difficult situation, to be as simple and convenient as possible for you and your loved ones.

A prominent part of an estate plan is choosing a power of attorney. Choosing a power of attorney is an important decision you need to make in your life because the person you choose will handle the legal, financial, and even the medical matters if you become incapacitated in your life. That’s why it’s important to make sure you choose the individual with logical thinking and not through your emotions.

Understanding the Significance of the Power of Attorney (“ POA”)

Life is unpredictable. There is a chance that you might go through an accident that makes you incapable of making important financial, medical, and legal decisions. Staying one step ahead will help you make you and your loved ones life secure and safe.

This is where the power of attorney comes in. A power of attorney nominates an individual to possess the power to make financial decisions on your behalf if you were to become incapacitated. It is a possibility in life, and you need to prepare for it. The person you appoint as your power of attorney holds a great responsibility to ensure that all your wishes are met while you are alive.

Therefore, the person you choose will affect your life and of those closest to you. This is why every person has to choose a power of attorney after logical thinking and not from feelings or emotions.   

Choosing the Right Agent under Your Power of Attorney

You need to consider several crucial factors while choosing the right individual as your power of attorney!

Trust

Trust is paramount when it comes to choosing an individual as your power of attorney. Before you make your decision try to ask yourself who the people are that you trust the most in life. It is important to evaluate this based on your life experiences and logic, not just who you feel might be trustworthy.

List down the people who you trust the most and those who helped you even in the toughest times. List all the people that come to your mind. 

Proximity

The next factor of consideration while making your decision is the proximity. It is highly impractical to appoint someone who lives in another state or another country. You need to choose a person that is easily accessible if a situation arises. 

Age

Age is another crucial factor of consideration when appointing a power of attorney. Choosing someone who is much older than you is not smart. If they die while you are incapacitated, things will be complicated. Another case is when you choose someone who is not old enough to handle such critical matters. It is best to choose an individual who is close to your age and can manage complex life matters. 

Family Dynamics

Another essential factor to consider is family dynamics. Many people trust their family members the most, but appointing a family member as your power of attorney can end up causing more problems. You need to look for an unbiased person out of the family that you trust to avoid the complicating family matters. 

To sum it up, choosing a power of attorney is not a decision to take lightly and should be made after careful thinking and analysis. This individual will have power over you as well as the lives of your loved ones, so make your decision wisely!