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Can I Use A Health Care Power of Attorney to Take Out a Loan?

Can I Use A Health Care Power of Attorney to Take Out a Loan?

Q: What is the difference between durable and normal power of attorney?

A normal power of attorney becomes invalid if the principal becomes incapacitated, while a durable power of attorney remains effective even in such situations. This durability ensures that the agent can continue to make decisions on behalf of the principal when they are unable to do so themselves.

Q: What three decisions cannot be made by a legal power of attorney?

A legal power of attorney generally cannot make decisions regarding the principal's marriage, create or revoke a will, or make decisions about the principal's medical care if a health care power of attorney is in place. These matters are typically outside the scope of authority granted by a power of attorney.

Q: What does 'durable' mean on a power of attorney?

'Durable' means that the power of attorney remains in effect even if the principal becomes incapacitated. This ensures that the designated agent can continue to act on behalf of the principal without interruption, making it a crucial tool for managing affairs during periods of incapacity.

Q: Does a durable power of attorney override a spouse?

A durable power of attorney does not override a spouse's rights. However, it grants the designated agent authority to make decisions on behalf of the principal. If the principal has designated someone other than their spouse as their agent, that agent's decisions take precedence in matters covered by the power of attorney.

Full question:

My husband has a 'Life-Prologing Declaration and Health Care Durable Power of Attorney' Can I use this as proof to apply for a loan to pay some of our bills? He appointed and designated me to act on his behalf.Thank You,Jackie

Category: Living Wills
Date: 04/07/2025
State: Florida

Answer:

A living will is a document that allows a person to explain in writing which medical treatment he or she does or does not want during a terminal illness. A living will takes effect only when the patient is incapacitated and can no longer express his or her wishes. The will states which medical treatments may be used and which may not be used to die naturally and without the patient’s life being artificially prolonged by various medical procedures. The living will allows a person to make the decision of whether life-prolonging medical or surgical procedures are to be continued, withheld, or withdrawn, as well as when artificial feeding and fluids are to be used or withheld.

A health care power of attorney authorizes an agent to make health care decisions for the incapacitated person. It is limited in scope to health care decisions. A general or financial power of attorney may be used to authorize an agent handle financial matters.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

Is a durable power of attorney responsible for medical bills?

A durable power of attorney for health care allows an agent to make medical decisions on behalf of the principal if they are incapacitated. However, it does not make the agent responsible for paying medical bills. The principal's estate or health insurance typically covers those costs.

What are the disadvantages of a durable power of attorney?

One disadvantage of a durable power of attorney is the potential for abuse, as the agent has significant authority over the principal's affairs. Additionally, if the principal becomes incapacitated, they cannot revoke the power of attorney without legal intervention. This can lead to complications if the agent's actions do not align with the principal's wishes.