Planning Intermediate: Powers Of Attorney and Advance Medical Directives

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Unless your power of attorney is "durable," your agent will not be authorized to act on your behalf if you become disabled.

True

False

True. That is the import of the word "durable."

Because your retirement account is one of your more substantial assets, it is generally unwise to allow your agent authority to make decisions regarding it.

True

False

False. Precisely because managing retirement accounts is so important, it's a good idea to grant authority over them to a trusted agent.

Which of the following is true regarding advance medical directives?

Controversy can arise if you express wishes as to your medical care with which your surrogate disagrees

It is best to have your advance medical directive witnessed by close family members

Your advance medical directive should address what should be done or not done when death is imminent

Your advance medical directive should address what should be done or not done when death is imminent. The other choices are false.

An advantage of the durable power of attorney is that _______ .

It prevents your agent from taking advantage of his or her position

The law permits you to sign it even after you become totally incompetent

Unlike a springing POA, a durable POA takes effect immediately and avoids the burden of a formal determination of your disability.

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.

Because of its importance and complexity, an advance medical directive is a document that is generally best left to be prepared by an attorney.

True

False

False. Most states have sample forms provided by law that can be obtained online.