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What is a power of attorney and why do i need one? – Carpenter & Lewis PLLC

July 16, 2025

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Transcript:
00:03
So, I want to explain today something that’s uh often overlooked, but that we realize and recognize is incredibly important. What is a power of attorney and why do you need one? A power of attorney generally lets you choose someone you trust to make decisions for you if you ever become unable to make

00:22
decisions for yourself, but while you’re still alive. So, it’s a core part of any good estate plan. not just for the future, but for the unexpected now. And there’s a few types, it gets confusing, that you need to know about. You have the first, the durable power of

00:39
attorney, and that covers your financial matters. Let’s someone step in to pay your bills, manage bank accounts, or handle property. It’s an important and powerful document, but if you trust somebody, it’s necessary to have. And durable means it continues to be valid even if you lose capacity to make

00:58
decisions. which generally is exactly when you might need it the most. Next, we have the health care power of attorney and people hear about these all the time. That’s what allows people to step in your shoes and make medical decisions on your behalf if you’re unable to speak for yourself. So, think

01:15
of it as the voice in the room to be able to speak for you if you’re unable to. And finally, people know about this as well. They hear this term a lot. We have what’s called the living will. And that’s why we hate the terminology candidly. It’s a bit confusing because it’s very

01:29
different from a traditional will. The living will simply usually state your wishes for end of life care. Like for example, whether you wish to be kept on life support if there’s no reasonable chance of recovery. So together, all these documents give your loved ones

01:45
guidance and legal authority when they need it the most. And that helps to avoid confusion and conflict and delays when needed. And it’s important to remember that powers of attorney actually are a very important part of your total estate plan. We can say we hope you’ll never need them, but they’re

02:02
very important documents and having those documents in place are what make all the difference. So, we’d love to help you walk through those and help you set those up.