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Planning Intermediate: Powers Of Attorney and Advance Medical Directives

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1.
Because of its importance and complexity, an advance medical directive is a document that is generally best left to be prepared by an attorney.
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False. Most states have sample forms provided by law that can be obtained online.
2.
Which of the following is an important power to grant your agent in your power of attorney?
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The power to handle tax matters and deal with the IRS. Your agent is not permitted to write your will, and should not have authority to use your accounts for any purpose that he or she wants.
3.
A primary goal in having a durable power of attorney is _______.
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To avoid the need to appoint a guardian to make decisions for you in case of disability. Guardianship involves a time-consuming court proceeding.
4.
An advantage of the durable power of attorney is that _______ .
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Unlike a springing POA, a durable POA takes effect immediately and avoids the burden of a formal determination of your disability. The other statements are false.
5.
A springing power of attorney takes effect immediately upon signing.
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False. A springing power of attorney "springs" into effect only when you become disabled.