As people are living longer, due to both healthier lifestyles and medical advances, it is becoming increasingly common that Denver residents find themselves rearing children while taking care of elderly parents.
Everyone in Colorado should have a power of attorney in place, no matter how old they are. That said, elderly individuals are especially in need of a power of attorney for obvious reasons -- they are more at risk of suffering a catastrophic health event that could render them incapacitated and unable to make decisions for themselves.
There are several reasons why a person may need to have powers of attorney in place. For some people, delegating the ability and responsibility to work on their behalf in a single transaction may necessitate drafting a limited power of attorney for that transaction alone. For others, drafting a power of attorney granting another person broad powers to make financial decisions on their behalf is needed.
When someone is granted power of attorney, that person is authorized to take action on behalf of another individual. What a person is authorized to do can be broad or limited in scope. In most cases, an individual is granted the power to make decisions for another person when some predetermined event occurs in the future.
For Colorado residents planning their estates, there may be concerns about empowering a representative to make certain legal or financial decisions as needed under certain conditions. While a power of attorney is used to designate such a representative, the type of power of attorney selected affects the types and timing of decisions to be made by that individual.
Many Denver residents may be aware of the need to plan their estates, but may not understand how the process works. For instance, you may be wondering what power of attorney is and how you might go about getting one.
An often overlooked but vital part of estate planning concerns making decisions about end-of-life matters. Facing one's own mortality makes many Colorado residents and others uncomfortable.
Colorado residents should all have four basic documents in place in case of serious injury, sickness or death.
According to several recent surverys, only about 33 percent of people in the U.S. have a living will or medical power of attorney. These estate planning documents detail what medical care you want to receive in cases of serious or terminal illness or catastrophic injury.
Talking with loved ones about your end-of-life wishes is perhaps one of the most uncomfortable conversations a person could have. However, the tragic story of a 13-year-old girl recently being declared brain dead has captured national attention and has caused many Colorado residents to consider how they would like to be cared for if they ever ended up in a similar situation. The California girl was declared brain dead in December 2013 after suffering complications from a tonsillectomy. The family has since been fighting to keep the girl alive using a ventilator. Unfortunately, nobody knows if this is what the girl would have actually wanted.