Why consider powers of attorney?

Planning and preparing for future events can be a daunting task. At the end of the day, planning for everything is impossible. However, ensuring all of one's bases are covered is possible. When it comes to estate planning, in particular, Michigan residents have a lot of things to consider. Powers of attorney, for example, are worth your consideration.

So, what is a power of attorney? When it comes to powers of attorney, there are actually two different types. There is one for health care, in which a person is designated to make all of your medical decisions in the event that you cannot. If you become incapacitated, the individual you name in your power of attorney will have to follow the instructions provided by you in a health care directive. This ensures your wishes for treatment are known and observed.

The second type of power of attorney is for financial matters. In this document, you will decide who will be in charge of handling your assets. This individual will be responsible to make sure your bills are paid; he or she will also be able to make decisions regarding any real estate your own -- among other things.

There is a lot to know and learn about powers of attorney. More about on this topic can be found on our firm's website. Here you will also find more information about estate planning in general and how an attorney can help you create an estate plan that not only suits your personal needs, but is in compliance with Michigan laws.