Unfortunately, your best friend has been diagnosed with an illness that will ult
ID: 451859 • Letter: U
Question
Unfortunately, your best friend has been diagnosed with an illness that will ultimately prevent him from managing his own finances. Your friend has the utmost trust in you and is confident that if the need arises you would make the best decisions as to how to use his money to provide for his care. The best way for your friend to accomplish the objective of giving you the authority to make financial decisions for him in the event he becomes incapable of making the decisions for himself is to create a (select the most correct answer):
Last Will and Testament.
Power of Attorney for Health Care.
Durable Power of Attorney.
Power of Attorney.
Explanation / Answer
Answer is Durable Power of Attorney.
It covers all health care decisions, and lasts only as long as you are incapable of making decisions for yourself. However, you can set out specific provisions in the Power of Attorney telling your attorney holder how you would like them to act in regards to deathbed issues.
This documentour health care documents take effect if your doctor determines that you lack the ability to make your own health care decisions. It usually means that:
This means that if you are so ill or injured that you cannot express your health care wishes in any way, your documents will spring immediately into effect.
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