Beyond the Will: The Essential Power of Attorney Documents Every Parent Needs
Most people associate estate planning with writing a Will—a document that takes effect after death. But what happens if you’re suddenly injured, ill, or otherwise incapacitated? Who pays the mortgage, handles your medical bills, or makes critical healthcare decisions?
For American adults with families, planning for incapacity is arguably more urgent than planning for death. The documents that govern this “living estate” are the Powers of Attorney (POAs).
Without a current, legally valid Power of Attorney, your loved onesface a devastating scenario: they must go to court to have a judge appoint a Conservator (for financial matters) or a Guardian (for medical decisions). This court process is costly, lengthy, public, and incredibly stressful—the exact opposite of the peace you want for your family. The judge might even appoint someone you wouldn’t have chosen.
Document 1: The Durable Financial Power of Attorney (POA)
This document allows you to appoint an Agent (or Attorney-in-Fact) to manage your financial and legal affairs if you are unable to do so yourself.
Its Power: Your agent can pay bills, manage investments, file taxes, handle insurance claims, and manage real estate.
For Parents: This ensures that your family’s financial life—paychecks, mortgage payments, school expenses—continues without interruption while you focus on recovery.
Document 2: The Healthcare Power of Attorney (POA) / Healthcare Directive
This document appoints an Agent to make medical decisions for you if you are unable to express your wishes.
Its Power: Your agent can communicate with doctors, consent to or refuse treatments, and access your medical information. This document is often paired with a HIPAA Authorization and a Living Will (or Directive to Physicians), which specifies your wishes regarding life-sustaining treatment.
For Parents: You give your spouse or trusted loved one the immediate, legal authority they need to speak for you in a crisis, removing all doubt and delay.
The Myth of Automatic Authority
Many married couples incorrectly assume that a spouse automatically has the legal right to manage their partner’s finances or health care in a crisis. This is false. While some institutions may allow limited joint account access, full legal authority often requires a Durable Power of Attorney. Without it, banks and hospitals may refuse access until a court order is presented.
POA for Young Adult Children
As highlighted in your previous content, once a child turns 18, parents lose all legal authority. A Financial POA, Medical POA, and HIPAA Authorization are essential documents that every college-bound or working young adult must sign to ensure their parents can help them in an emergency.
A Will plans for your death; Powers of Attorney plan for your life and the continuity of your family’s well-being. By executing these documents now, you are making a powerful statement: you trust your chosen loved ones to handle your affairs, and you have taken steps to make their lives easier during a challenging time.
Contact Zarda Law today to create your essential incapacity plan and Powers of Attorney.
Schedule a Legacy Session HERE to discuss your current situation with Lisa and get personalized estate planning recommendations. Let's work together to secure your legacy and protect your loved ones.
This article is a service of Zarda Law, S.C. We do not just draft documents; we ensure you make informed decisions about life and death, for yourself and the people you love. That's why we offer Legacy Planning Session, during which you will get financially organized and make all the best choices for the people you love. You can begin by scheduling a Legacy Planning Session and mention this article to find out how to get this $750 session at no charge.
