Attorney-in-fact. Anyone who creates a power of attorney chooses another person or organization who has the legal right make decisions on that person?s behalf. The person or organization chosen is known as an attorney-in-fact or an agent. Attorneys-in-fact do not have to be lawyers.?Being named to that position does not allow them to do anything other than act in the way the power of attorney document specifies.
Incapacity. Under the law, an incapacitated person, also known as an incompetent person, cannot enter into new agreements or make decisions on his or her own behalf. A court must determine if a person is incapacitated and, once it does, that person must have a guardian or conservator appointed over him or her. It falls to the guardian to make decisions for incapacitated person.
Guardian or conservator. Courts can appoint a guardian, sometimes known as a conservator, for an incapacitated person. Guardianship responsibilities will usually be divided between two different types of guardians. One guardian will have the responsibility to manage the incapacitated person?s financial responsibilities and property, while the other will have the responsibility to make decisions about the person?s daily life, including medical or healthcare choices.
Advance Directive. Along with the power of attorney, a person can make his or her own choices about who will make decisions should that person become incapacitated. With an advance medical directive, also known as advance directive, health care proxy, or healthcare power of attorney, a person can choose someone who will act to make medical decisions, should incapacitation occur.
Byrd : Garrett, PLLC is a member of the American Academy of Estate Planning Attorneys.
Source: http://www.byrdgarrett.com/blog/elder-law/frequently-elder-law-terms/
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