Less than 50% of American adults have a will in place. Out of these, 83% of adults over the age of 72 are proactive enough to have a power of attorney, giving a loved one legal authority to make medical decisions on their behalf. The idea of the power of attorney in Texas and your elderly parent entrusting you with this authority can lead to many confusions.
Wondering in what situations you might need power of attorney? Here’s the answer to these questions. But first, let’s understand what power of attorney is.
Power Of Attorney Explained
Power of attorney is a situation in which the principal assigns an agent the authority to make decisions or take measures on their behalf. The principal gives this authority via a written legal document, and it can be limited or general.
Limited Power Of Attorney: These are documents limited to a certain timeframe, a task, or specific transactions such as motor vehicle transactions or tax collection. The paper is revoked when the prescribed job is completed or lapses.
General Power Of Attorney: A general power of attorney is when the principal grants all decision-making power to the agent without limitations. The document is valid until the principal’s death or revoked by the principal.
Medical Power Of Attorney: As the name suggests, it is when you can make medical decisions on behalf of your parents. They can include treatments, surgery, feeding tubes, organ donation, and selection of healthcare facilities.
Reasons You May Need It for Your Elderly Parent
Now that you know the power of attorney in Texas and your elderly parents can issue one naming you as the agent, let’s discuss when you can be declared one.
Take Medical Decisions: At times when the principal is rendered incapable of making medical decisions, it allows you to make decisions that are in the best interest of your parents.
Handle Business Affairs In Case Of Travel: When your parents intend to travel, they can give you a power of attorney to take business decisions on their behalf so that the day-to-day running of the business is not affected.
When Parents Are Diagnosed With Dementia: Ageing can be cruel, and diseases such as Alzheimer’s can cause your parents to experience dementia. In such cases, you can have them give you a power of attorney in the early stages to allow you to take critical decisions on their behalf.
Imminent Surgery: When your parents need to undergo surgery, and recovery will take time, they can assign you as their agent to carry out work on their behalf while they recover.
Family Issues: Not all families are close-knit, and there may be a situation when the children disagree over caring for aging parents. In such cases, a power of attorney from the parent assigns the responsibility of their care to the child they trust.
A power of attorney can be for just about any situation. It is when parents entrust their children with decision-making powers on their behalf.
With the power of attorney in Texas and your elderly parents in mind, you can make the decisions in the best interest of both you and your parents. It allows you to provide the utmost care for your parents when they need it the most.