I Have an Elderly Parent – What to Know About Power of Attorney

When it comes to legal matters, things can oftentimes get a little bit complicated. Especially if you are not an expert. A Power of Attorney can give you authority and access to review information and make decisions at important times on behalf of your loved ones. If you have an aging parent, learn the basics about Power of Attorney.

What is a Power of Attorney?

A Power of Attorney is a legal document giving authority from “the principal” to “the agent.” This gives “the agent” authority to view records, make decisions and handle private matters of “the principal.”

Why would I want a Power of Attorney?

There are many reasons you or a parent would want a Power of Attorney. For example – if one of your family members is sick and unable to make decisions about their own treatment, you may need to make decisions for them. In addition, you would be able to transact important financial matters on their behalf. By law, this is not legal unless you are a parent/guardian, or if you have a Power of Attorney.

What is a Power of Attorney used for?

A Power of Attorney can have many uses. To name a few:

  • Health care issues
  • Financial responsibilities
  • To gain access to a safe-deposit box
  • Renounce or disclaim inheritance
  • Sign tax returns
  • And more.

How do I have a Power of Attorney made?

In order to have a Power of Attorney made for you or anyone else who may need one, you should seek out an experienced lawyer. Contact O’Keeffe O’Brien Lyson Foss Attorneys to set up an appointment with one of our experts today.

To learn more about the O’Keeffe O’Brien Lyson Foss team, click here.