How do I assign financial and medical power of attorney to my husband?
A medical power of attorney is also often called an advance healthcare directive, a living will, or a healthcare power of attorney. A financial POA can be "springing," which means it becomes effective only upon incapacity, or "durable," which means it becomes effective immediately and continues after incapacity. Your husband does not automatically have power of attorney for you. Assuming the goal is to have both of you able to handle the other's finances and medical decisions if one of you becomes incapacitated, you both need to have a medical power of attorney and a financial power of attorney for the other person.
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I would like to discuss POAs with someone.
I’ll see if a lawyer is available to help. Are there any other details you'd like me to pass on?
I am filling out both financial and medical POAs. Do I need to officially give power of attorney to my husband? Or does he have it by default?
Thanks! I'm Barrister and I should be able to help. I understand you are filling out both financial and medical power of attorney forms and are looking for further information.
Hi.
A medical power of attorney is also often called an advance healthcare directive, a living will, or a healthcare power of attorney. A financial POA can be "springing," which means it becomes effective only upon incapacity, or "durable," which means it becomes effective immediately and continues after incapacity. Your husband does not automatically have power of attorney for you. Assuming the goal is to have both of you able to handle the other's finances and medical decisions if one of you becomes incapacitated, you both need to have a medical power of attorney and a financial power of attorney for the other person.
Ok, so he should be my first agent and then I can also assign one or two more?
Exactly.
I was also looking for a mental POA that I've been told about. Where do I find that?
Are you referring to a medical power of attorney? There isn’t really a separate "mental" POA—that's usually covered by a medical POA.
I was told at a workshop that it's different from the medical POA. It refers specifically to things like Alzheimer's or other mental illnesses.
That can be included as a specific grant of authority within a standard medical POA.
So if I fill out a medical POA, it should cover mental incapacity too?
Correct. Just make sure to read over the language. A standard form will typically mention mental incapacitation, so you don't need to do anything else. Most forms include it, but it's good to confirm.
Great, that sounds good. Now, in the financial POA, it lists some powers and then asks about "authoritative" powers and "special" instructions. Our portfolio is simple. Any harm in just checking them all?
Generally no harm. It gives the agent broad authority under the law. The only time people limit powers is when the agent isn't a close, trusted family member.
And the authoritative and special instructions? Can I designate funds to grandchildren or a charity?
So the financial POA gives access to accounts but not gifting instructions? I should use a will or trust for those?
Correct. The agent can make gifts if you specify, but a POA ends at your death. For post-death distribution, use a will or trust.
Wait, the financial POA ends at death too? I thought it could help avoid court involvement.
All POAs end at death. But for after-death matters, you'll need a will or trust.
Shoot. I'll look for will or trust docs. Thank you! You've been a great help! When I get these forms notarized, can I make copies, or should I notarize several?
Definitely keep originals in a secure place, like a fireproof safe. Photocopies of notarized POAs are just as valid as originals.
Great! Thank you!
You are very welcome. Glad I could help. Have a great afternoon and be safe!
