When Maryland residents are creating their estate plans, they may wonder how their affairs will be taken care of in the event of their incapacitation. Luckily, there are steps that individuals can take to appoint power of attorney agents. These individuals will be in charge of making applicable decisions if the appointing parties become unable to make decisions for themselves.
First of all, individuals of any age could benefit from creating a power of attorney document. When considering who to appoint as an agent, individuals may wish to choose carefully and wisely. There have been instances in which such documents have been used to exploit individuals or take other fraudulent actions. Therefore, naming a highly trusted and responsible party who would handle the obligations with respect may be prudent.
Additionally, when the documents are created, individuals may wish to be thorough and detailed. There are documents that could be made for financial decisions, health care decisions or both, and these documents will address how much power an agent has over certain decisions. Parties may want to ensure that they are creating the documents that are best for their circumstances.
Because there are a variety of options and much information to explore, Maryland residents may wish to begin their planning sooner rather than later. Learning more about power of attorney documents and the responsibility of agents could help during the decision making process. Additionally, individuals may wish to seek assistance from experienced estate planning attorneys who could shed more light on this beneficial planning option.
Source: myprimetimenews.com, "What Should You Know about a Power of Attorney", Gerald Rome, July 30, 2016