Powers of Attorney
Designate trusted individuals to make financial and healthcare decisions on your behalf
What is a Power of Attorney?
A Power of Attorney is a legal document that authorizes someone you trust (your "agent" or "attorney-in-fact") to make decisions and take actions on your behalf. In Michigan, there are two primary types of powers of attorney you need to consider:
Financial Power of Attorney
Allows your agent to manage your financial affairs, including banking, bill payments, real estate transactions, investment decisions, and tax matters.
Healthcare Power of Attorney
In Michigan, called a Patient Advocate Designation. Allows your agent to make medical decisions when you're unable to communicate your wishes.
When Do Powers of Attorney Take Effect?
Immediate Power of Attorney
Takes effect as soon as you sign it. Useful when you need someone to handle affairs while you're traveling, or as you age and need assistance with complex financial matters.
Springing Power of Attorney
Only takes effect upon a specific event, typically your incapacity as certified by a physician. Provides protection while maintaining full control until you need help.
Durable vs. Non-Durable
Durable powers of attorney remain valid even if you become incapacitated (recommended for most situations). Non-durable powers terminate if you become incapacitated.
What Can Your Agent Do?
Financial Powers
- • Pay bills and manage bank accounts
- • File tax returns
- • Manage investments and retirement accounts
- • Buy, sell, or manage real estate
- • Handle insurance matters
- • Run a business
- • Make gifts (if specifically authorized)
- • Access safe deposit boxes
Healthcare Powers (Patient Advocate)
- • Consent to or refuse medical treatment
- • Choose healthcare providers
- • Access medical records
- • Make end-of-life care decisions
- • Arrange for home care or nursing home placement
- • Advocate for your treatment preferences
Choosing the Right Agent
Your agent should be someone who:
- ✓ You trust completely with your finances and personal wellbeing
- ✓ Understands your values and wishes
- ✓ Is financially responsible and organized
- ✓ Is willing to serve and capable of making difficult decisions
- ✓ Lives nearby or can be easily reached
- ✓ Will respect your wishes even if they disagree
Important: You can name different agents for financial and healthcare matters, and you should always name alternate agents in case your first choice is unable to serve.
Protect Yourself with Powers of Attorney
Schedule a consultation to establish your financial and healthcare directives.
Schedule Consultation