Power of Attorney & Health care Directive - Two Docs You Need Now!

 

Unexpected situations can happen to anyone and unfortunately if you're not prepared, the situation is going to be worse than it needs to be. Anyone can become a victim of an accident or suffer a debilitating injury, or health condition like a heart attack, stroke or brain injury. If this happens and you do not have a Power of Attorney agent assigned to you, your finances will come to a stand still. No one can move your money around to pay bills, or sell that boat or motorcycle you'll never ride again, or negotiate with your mortgage holder, or refinance your loans.

Likewise if you've been incapacitated due to a health condition or accident, and you've been rushed to the hospital and are hooked up on feeding tubes. colonoscopy bags, breathing tubes, IV drugs and sedatives - it would be nice if you had signed a health care directive to let your caretakers know and prove what your wishes are as far as health care. It would be important to know if you have a DNR (Do not resuscitate) order in the event you are being kept alive solely by machines.

Unfortunately, I know someone who has suffered a stroke and is in the hospital in ICU and has no will, no health care directive and no power of attorney. He was the sole income earner in his household with his wife and four children. They have no savings, tens of thousands due in credit card bills and when he quits getting paychecks shortly (no sick pay at his job which was largely commission with a modest base salary), they will not have a means to pay the large mortgage. The wife can't refinance the mortgage without his signature, can't sell the boat he bought last month, and can't sell the house. All because he is unable to sign and make these decisions now.

So, to avoid being in this dire situation, you need to have two documents signed and notarized in your possession. Simply search google Power of Attorney, and add your state like Florida. There are many free forms available for review and completion and downloading to your computer. Make a folder on your desktop that others can find. Print and sign the copies and make a real paper folder to put in the front of your filing system. You want others to be able to find your documents in you become incapacitated. Tell others what your wishes are and make sure your "power of attorney" agent has a signed copy in their possession. While you're at it, you need to search google health care directive Florida too, and do the same - complete and download the form, get it signed and notarized and give a signed copy to your health care agents.

Of course, there are other important documents you need completed too - like your last will and testament, a motor vehicle power of attorney form (so your vehicles can be sold) and a personal property inventory list.  But if you complete the Power of Attorney and Health care Directive now, you can help your caretakers act immediately to save your financial situation from ruin.