If you became incapacitated, who would manage your finances or determine the medical care you receive? No, it’s not so cheery to think about, but if anything happens to you, you’ll be glad you did. Here’s how to tackle this to-do.

This is for you: Pretty much any adult could use a financial and/or healthcare power of attorney, but it’s especially important if you have money or property that may need handling, or if you want to choose the person who makes your health care decisions if you can’t.

What’s the difference?
Healthcare Power of Attorney:

• Assigns someone (an “agent”) to make your healthcare decisions if you become incapacitated. Translation: If you’re unconscious, in a coma, or declared mentally incompetent.


• It can be non-durable or short-term. For instance, if you’re going into the hospital for a procedure and would like a power of attorney to be in effect just for that period of time.


• It can be durable, meaning it’s for the long-term. (All powers of attorney end when you die.)


• You can direct a power of attorney’s scope and make it as broad or narrow as you’d like. For instance, you can stipulate whether lifesaving equipment should be used or authorize a Do Not Resuscitate order.


• Usually effective as soon as you sign it.

Property Power of Attorney:

• Assigns someone (an “agent’) to take care of your financial matters (pay bills, buy and sell assets, write checks, etc.) if you become incapacitated.


• It can be non-durable or short-term. For instance, if you plan to be in Barbados when a real estate transaction closes, you could assign a power of attorney to your spouse to sign the closing documents for you, and the power of attorney would expire after that event.


• It can be durable, meaning it’s effective for life.


• The scope can be as narrow or as broad as you wish, meaning you can customize a list of specific financial matters that are included or include all financial matters.


• It can be effective when you sign it, or you can create a springing power of attorney, which becomes effective if an event in the future (like a coma) incapacitates you.

Hands-on time: A couple of hours to actually meet with an attorney, review the document he/she draws up, and sign the final paperwork.

Total time: Depends on your schedule and the attorney’s. Total time will include two appointments and enough time to turn the paperwork around.

Cost: About $100 to $150 per power of attorney, although cost will vary by attorney and state. (Tip: See if your employer has a legal benefit plan that you can elect when open enrollment comes around. That could pay for a portion or the entire cost of some legal services.)

What you’ll need:

• A form of ID, such as a driver’s license or passport
• The address of the person you want to assign as your agent and successor agent
• An Internet-connected computer to find attorneys, if necessary

What to do:
1. Think about who you might like to have as your agent and successor agents (who will serve in the event that your primary agent can’t or won’t).

2. Find an attorney who specializes in estate planning, trusts and wills in your state.

• Locate one nearby at estateplanninganswers.org, the website of the National Association of Estate Planners & Councils. You can also search Martindale.com—one of the oldest directories and ratings agencies for attorneys by practice area.
• Alternately, ask friends, family and coworkers if they’ve used an estate planning attorney who did a good job.

3. Once you have a small list, call a few attorneys and tell them you’re looking to get a power of attorney (or two) done. It’s perfectly okay to ask them how much it will likely cost.

4. Set up a meeting with the attorney to go over the state power of attorney forms and talk about your options.

5. At the meeting, talk about choice of agents and the duties and powers you want them to have.

6. Your attorney will customize the forms with agent names and your choices of powers and send them to you for review.

7. Read the documents and let your attorney know if you’d like to make any changes.

8. Discuss the power of attorney with your agent(s) to make sure they’re okay with serving if needed.

9. Have a final meeting with your attorney to sign the documents. Depending on your state, your attorney may have a disinterested witness and a notary on hand to sign the documents as well.

10. You can have your agent(s) sign a copy as well, although that’s optional.

11. Keep a copy of your power of attorney documents in a safe place, and give a copy to your agents.

12. Give a copy of your healthcare power of attorney to your primary physician.

To learn more:
16 Things To Do Before You Die (MSN Money)

Did you do it? Tell us what worked or share other tips in the comments below.

Who helped: John S. Young, attorney and member of the National Academy of Elder Law Attorneys, Mt. Prospect, IL

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