Who do you want to make decisions for you if you cannot make them yourself? A trusted family member or friend or the courts? We all plan to live forever and maintain our ability to make decisions, but that is not reality. The following is important for older adults, especially those widowed or single, but this can apply to college students as well. Here are some important legal documents (with links) you should have.
POWER OF ATTORNEY
Power of Attorney for healthcare. You assign someone as power of attorney when you are of sound mind. If you have a power of attorney (POA) you make all of your health care decisions, if you are able. That person can speak with your health providers but you make the final decision, if you are able. All that is needed to set up a healthcare POA is the proper form and either two witnesses or a notary’s stamp and signature. You can find a notary at your bank or library. You do not need a lawyer but an attorney can certainly draw up a POA. https://www.ohiolegalhelp.org/letters-forms/healthcare-poa
Financial Power of Attorney. This is similar to the healthcare POA, in that you assign someone when you are well and they only are needed if you cannot take care of your financial obligations. I had a client who went to the hospital and then rehab. She saw no need to assign a financial POA. No one had access to her bank account to pay these bills. She almost had her utilities cut off and it harmed her credit score. https://www.ohiolegalhelp.org/letters-forms/fpoa
Durable Power of Attorney. Both types of POA should be durable, in these cases. If they are not durable they will become void when you become incapacitated. In fact in Ohio, Durable Power of Attorney is the default.
One word about young adults. If a young adult is in college and is in an accident or has a medical emergency, parents cannot make decisions because their child is not a minor. A medical POA allows parents to have a say in their young adult’s care.
Once you have a signed POA, give that form to your doctor(s), bankers and financial planners so they know who to deal with if you are unable to speak for yourself.
GUARDIANSHIP
How is guardianship different? The courts appoint and approve of guardians after a person has been declared incompetent and can clearly not make decisions for him or herself. A guardian has complete control over their ward and can decide where they live and what medical care they receive, among other things. You can undo your POA by filling out a form. Discontinuing or changing a guardianship must be approved by the courts. Guardians must file reports and be accountable to the court. Brittney Spears aside, courts take guardianship very seriously as they should, because it takes away a person’s decision making.
LIVING WILL
A living will is a legal document completed by a person of sound mind that sets out the person’s wishes if they are unable to speak for themselves. This includes withholding hydration and nutrition when it is no longer effective. Think of the living will as a roadmap for the healthcare POA. This form also needs two witnesses or a notary and can be changed at any time. Make sure your health provider has a copy. https://www.ohiolegalhelp.org/letters-forms/living-will
THE YELLLOW SHEET
This is one of my favorite forms. It probably is called the Yellow Sheet because it was on yellow paper before it was online. This is a non-legal document to let people know your online passwords, your bank accounts, all of your credit cards once you die or are incapacitated. It will make your passing or your inability to handle your affairs so much easier for your loved ones. You do not necessarily need to hand this out in advance. Tell your financial POA where you keep this document and leave it in a safe place or with a trusted person, only to be accessed if you die or are incapacitated. It will allow your loved ones to settle your affairs easier and let them have time to grieve instead of being on the phone with the electric company. https://www.akroncf.org/wp-content/uploads/Probate-Court-Sheet-Yellow.pdf
WILLS
If you do not have a will, do so right away. You can use a simple will for a fairly simple estate. If so, use this form: https://www.ohiocountylibrary.org/document_center_uploads/fb_Form_Will_All-Purpose.pdf . Otherwise, you need to see a probate attorney to draft a will. If you have a will from when your children were small and now you have grandchildren, it is time to update your will. If you or a loved one get a diagnosis of a serious illness or dementia it is also time to revisit your will. The singer Prince died intestate (without a will) and his estate took six years to settle and cost millions in legal fees.
We all will die. Preparation can insure it happens on your terms and leaves your family with wonderful memories and not legal headaches.