Probably the most used of all estate planning documents is the Power of Attorney. There are two major types of POA: One being for assets or a general POA, and the other for medical decisions. This is often put into use in end of life care, but is also often needed during temporary conditions when someone is not able to make their own decisions. What you are doing is giving control over decisions that you would normally make in a time when you are not able to make those decisions. For a general Power of Attorney it is often most used to pay bills so you do not get behind while you are incapacitated.
Usually the General Power of Attorney has a clause that delays the power until after you are considered incapacitated. Some of my clients have reached the age that they no longer want to deal with finances and have a child, spouse or friend that they trust and wish to take over that part of their lives. This document gives them the ability to handle all of your financial issues on your behalf.
These documents have no power after you have died but are very important parts of an Estate Planning package. For more information on estate planning please visit my website or call me at (303) 442-6448. I have been practicing law since 1983 and I am here to help.