How to Use Advance Directives to Stop Financial Abuse of Seniors
Advance directives are documents that allow individuals to express their preferences and instructions regarding their healthcare and finances. Some advance directives include living wills, appointment of health care surrogates, and durable power of attorney documents. These documents are helpful in specifying your wishes for when you are unable to make decisions for yourself. By creating advance directives you can help prevent others from taking advantage of you and your assets in the event of incapacity.
When designating someone to fill these roles, it is recommended that you appoint someone trusted like a spouse, child, or a long-term friend. This person will make medical decisions for you, have access to records and finances, and will be given powers to act on behalf of you.
Living Will
A living will allows you to specify your wishes for life-prolonging procedures and end-of-life medical care.
Appointment of Health Care Surrogate
In this document, your health care surrogate has the authority to make medical decisions for you when you become incapacitated.
Durable Power of Attorney
A DPOA is used for making financial and legal decisions. While you are competent, you should designate an “attorney-in-fact” who will be given powers to act on your behalf.
Creating these documents is an important step in protecting you and your estate, and for ensuring safety and stability during times of incapacitation.
