When an Oklahoma resident sets up an estate plan, a power of attorney is a crucial consideration. There are two kinds of powers of attorney that the average estate planner needs: a health care power of attorney and financial power of attorney. When drafting these documents, estate planners will designate the person who will serve as power of attorney over their affairs in the event of incapacitation or other stipulated circumstances, but what kinds of powers are typically included in these documents?
Do you know what will happen should you become incapable of making your own medical decisions? You might think that you conveyed your wishes clearly and accurately to your loved ones, but, without the necessary legal provisions in place, your wishes may have very little impact on how your affairs are handled if you become incapacitated. Although most people in Oklahoma have little desire to contemplate this type of situation, it is still important to give careful consideration to what your wishes are and who you trust to handle them.
If you do not believe you need a health care power of attorney, you might want to reconsider your opinion. Indeed, no matter how old an Oklahoma resident is, he or she could suddenly become incapacitated without a moment's notice. A serious heart attack, stroke, motor vehicle accident or some other kind of health event could render an otherwise healthy person completely incapable of making decisions for himself or herself. In such instances, a health care power of attorney is vital.