subject: Is it really a big deal if I don't have Business and Healthcare Powers of Attorney? [print this page] Is it really a big deal if I don't have Business and Healthcare Powers of Attorney?
Power of Attorney is the act of authorization to act on someone else's behalf or business matter, when the person himself is unable or unavailable to make the decision due to specific reasons, the person of legal whom the power is given to is called the agent or the Attorney-In-Fact. It is advisable to plan ahead and set up what would you like to happen when you are not able to for yourself in future, or in other words who you believe to act in your place if you are unavailable in future.
Many people do not consider it a big deal to prepare power of attorney for health care and business and think prior for the future but this should not be especially for the citizen of Arizona as in Arizona, anyone can petition the court to be guardian or conservator on someone else's behalf, and the result may be that the Court ends up appointing this third party with the legal authority to determine what is in the best interest of the incapacitated individual. What that means is that, if you fail to plan properly, someone that you do not know may have the power to move you from your home to a nursing home or other facility, spend your entire financial resources on what they deem is in your best interest, and leaving you powerless to determine your own healthcare and your own expenditures.
For this reason, it is imperative that you appoint your own Agent with Power of Attorney while you are competent to do so, in order to prevent someone else from taking advantage of you.
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