Power of Attorney

A financial power of attorney covers money matters — paying bills, managing accounts, handling property. A health care power of attorney (sometimes called a health care proxy) names someone to make medical decisions if you cannot.

Read more: What Is a Power of Attorney?

A durable power of attorney remains in effect if you become incapacitated. A non-durable one ends at incapacity — which is usually when it would be needed most, so most planners recommend durable documents.

Read more: What Is a Power of Attorney?

Yes, as long as you have legal capacity. Revocation should be in writing, and you should notify your agent and any institutions that relied on the document.

Read more: What Is a Power of Attorney?

Often, yes — that is one of its main purposes. A well-drafted durable power of attorney (for finances) plus a health care proxy (for medical decisions) covers most situations where a guardian would otherwise be needed. Guardianship typically enters the picture when no planning was done and the person can no longer create documents.

Read more: Guardianship vs. Power of Attorney

A power of attorney is far less expensive — usually a modest legal fee or even a free state form. Guardianship requires a court proceeding with filing fees, attorney fees, and often ongoing costs for required court reports.

Read more: Guardianship vs. Power of Attorney

Generally no. Once a court appoints a guardian, the guardian's court-ordered authority typically supersedes a prior power of attorney, though courts can preserve some of the agent's powers. The specifics vary by state.

Read more: Guardianship vs. Power of Attorney

A living will states your wishes about specific treatments (such as life support or tube feeding) if you become terminally ill or permanently unconscious. A health care proxy (also called a health care power of attorney) names a person to make medical decisions for you. Most experts recommend having both: the proxy provides a decision-maker for situations the living will doesn't cover.

Read more: Advance Directives Explained

Usually not. Most states provide free statutory forms, and hospitals often have them. The key requirements — who must witness or notarize the signing — vary by state, so follow your state's form and instructions carefully.

Read more: Advance Directives Explained

Give copies to your named health care proxy, your primary doctor, and close family members. Keep the original where it can be found quickly. Some states maintain registries. A directive locked in a safe deposit box that nobody can access in an emergency cannot guide care.

Read more: Advance Directives Explained

Yes, as long as you have the mental capacity to do so. Review it every few years and after major life events — a new diagnosis, a move to another state, or a change in who you trust to decide for you.

Read more: Advance Directives Explained