Powers of Attorney
Powers of Attorney are an important part of a complete estate plan because they allow you to choose who can act on your behalf if you are unable to make decisions for yourself.
Financial Power of Attorney
A Financial Power of Attorney allows you to name someone you trust to manage financial and legal matters on your behalf if you are unable to handle them yourself.
Depending on how the document is written and state law, your chosen agent may be authorized to help manage:
- Bank accounts
- Bills and household expenses
- Real estate
- Insurance
- Investments
- Retirement accounts
- Taxes
- Business matters
- Contracts
- Government benefits
- Other financial responsibilities
A Financial Power of Attorney can help keep your financial life functioning if illness, injury, or incapacity prevents you from managing your own affairs.
Without proper authorization, even a spouse or adult child may face difficulty accessing accounts, paying bills, or handling important financial matters on your behalf.
The person you choose should be trustworthy, organized, and capable of making responsible financial decisions.
A Financial Power of Attorney is an important part of a complete estate plan because it helps protect your finances and provides continuity during periods when you may not be able to act for yourself.
At Setter Financial, we help clients throughout Wisconsin, Michigan, and other states where properly licensed understand how a Financial Power of Attorney coordinates with beneficiary designations, retirement accounts, insurance, real estate, and the rest of their estate plan.
Healthcare Power of Attorney
A Healthcare Power of Attorney allows you to name someone you trust to make medical decisions on your behalf if you become unable to make those decisions yourself.
This document can help ensure your healthcare wishes are followed and gives your family clear direction during a difficult or unexpected situation.
A Healthcare Power of Attorney may allow your chosen representative to help with decisions involving:
- Medical treatment
- Surgery or procedures
- Hospital care
- Medication
- Long-term care
- Rehabilitation
- End-of-life care
- Access to medical information
- Communication with doctors and healthcare providers
Without a valid Healthcare Power of Attorney, family members may not automatically have the legal authority to make healthcare decisions for you.
Choosing the right person is important. Your healthcare agent should be someone you trust to understand your wishes, communicate clearly with medical professionals, and make difficult decisions when necessary.
A Healthcare Power of Attorney is an important part of estate planning because estate planning is not only about what happens after death—it is also about preparing for incapacity during your lifetime.
At Setter Financial, we help clients throughout Wisconsin, Michigan, and other states where properly licensed understand how healthcare directives fit into a complete estate plan and coordinate with other financial and legal planning documents.
Why Powers of Attorney Matter
Without properly prepared Powers of Attorney, family members may not automatically have the legal authority to manage your finances or make healthcare decisions on your behalf. In some situations, court involvement may be necessary to appoint someone to act for you.
Powers of Attorney help you stay in control by allowing you to decide in advance who you trust to make important decisions if the need ever arises.
At Setter Financial, Financial and Healthcare Powers of Attorney are provided at no cost as part of our estate-planning services.