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Power of Attorney
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P
ower of Attorney (“POA”) documents are very important for each North Carolina resident to have. There are two types of POAs: Healthcare Power of Attorney and Durable Power of Attorney.
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• Medicare Advantage • Medicare Supplement Plans • Medicare Prescription Drug Plans
Healthcare Power of Attorney A Healthcare POA permits a person (the “principal”) to designate another individual (the “agent”) to make health care decisions for the principal when the principal lacks sufficient understanding or capacity to make or communicate his or her own health care decisions. This authority occurs after a physician or designated physician determines that the principal lacks capacity or is unable to communicate their own decisions. In a Healthcare POA, the principal may also provide instructions as to the medical treatment he or she desires or does not desire. The Healthcare POA must be executed in the presence of two witnesses and a notary. There are certain requirements that the witnesses must meet. For example, they cannot be the attending physician or employee of the physician. Therefore, it is important to discuss any Healthcare POA with an attorney to make sure it meets the standard required under North Carolina law.
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Durable Power of Attorney A Durable POA allows an individual (the “principal”) to designate another individual(s) (the “agent(s)”) to act on the principal’s behalf when he or she is incapacitated or needs assistance with handling every day affairs. “Durable” means the POA survives incapacity and may be effective immediately. The Durable POA may be as a broad or limited as the principal may like. For instance, it may give the agent power to manage or sell real property, manage financial accounts, pay bills, file taxes, hire an attorney or other professional, defend lawsuits, etc. There are specific requirements for a Durable POA to be executed in North Carolina, and therefore, it is important to speak with an experienced estate planning attorney about your wishes to make sure the document complies with North Carolina law. Danielle Feller is our lead estate planning attorney at Daly Mills Estate Planning. Danielle is a native of Mooresville, an AV Preeminent Rated attorney in Estate Planning, Rising Star Super Lawyer, and is being published in an upcoming chapter with Wealthcounsel’s second edition of Estate Planning Strategies, Collective Wisdom, Proven Techniques. Give Danielle a call today for a free consultation at 704-878-2365. You can also visit our website at www.DalyMillsEstatePlanning.com.
Danielle Feller For more information or assistance with estate administration, contact Daly Mills Estate Planning for a free consultation at 704-878-2365. You can also visit our website at www. DalyMillsEstatePlanning.com.
