Should I have a POA?
It is a good idea to have a Power of Attorney, especially when planning for long-term care, provided that you have complete trust in the person that you name as your agent.
A POA is an extremely powerful document that your agent can use for a variety of Medicaid and estate planning needs, both foreseen and unforeseen. Once you sufficiently identify your Medicaid or estate planning needs, you should sign a POA as soon as possible naming a trusted individual as your agent.
If there is a need to implement or continue your estate plan or gifting program after your possible incapacity, the agent can implement, under your POA, your wishes to the greatest degree possible.
For more details about a Power of Attorney and what it includes, click here.