Attorney Thomas B. Burton discusses what a Health Care Power of Attorney does and compares it to the Financial Power of Attorney and also discusses why all adults should consider having both in place.
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Transcript of Video: What’s the Difference Between a Health Care Power of Attorney and a Financial Power of Attorney?
Welcome back this is attorney Thomas
Burton and today I want to talk about
the difference between a health care
power of attorney and a financial power
of attorney and why you should have both
so this term power of attorney many
people are familiar with but
historically the first document that we
call the power of attorney was a
financial power of attorney or a durable
power of attorney for finances of
property that came along first in the
law the concept that you could create
this document wherever you name an agent
to act on your behalf if you are ever
incapacitated or unable to act so
several years later in the law decades
later the concept was applied to
healthcare saying if we can name an
agent to act for your financial affairs
and property why can't we do the same
with health care so now in Wisconsin we
have both a health care power of
attorney and a financial power of
attorney and I recommend that any adult
over age 18 have both but for sure you
should have the health care power of
attorney because in that document you
name an agent to act on your behalf if
you are ever incapacitated or unable to
act so the classic situation you can
think about is a coma where you're in
the hospital in a coma unable to
communicate you need someone who knows
your wishes and knows you well to
communicate with your doctors about your
care and in the healthcare document you
can make decisions about end-of-life
care feeding tubes resuscitation and
whether or not you want to be an organ
donor so those are all important choices
you make in the document and then you
name an agent to act on your behalf if
that situation ever occurs where you're
unable that now while you are able and
while you remain you have capacity
you remain fully in control of your own
health affairs so this only kicks in in
a situation where you're
incapacitated or unable to act and the
document defines that as a situation
where two doctors have signed off saying
you're unable to manage your own
health care affairs so for instance
mental incapacity or later in old age if
that would occur or again if you're in a
coma you're unable to communicate so the
difference between the health care power
of attorney and the financial power of
attorney the concept is the same you
name an agent fiduciary to act on your
behalf but the health care applies
strictly to your health the financial
advice strictly to your financial
affairs and asset and it's a good idea
to have both documents in place in case
you ever encounter that situation
because then you have one person taking
care of your property and financial
affairs and one person taking care of
your health care affairs and they don't
have to be the same person in fact often
it's not the same person that would be
good at both roles so I see confusion
about that today I wanted to make this
quick video about the difference between
a health care power of attorney and a
financial power of attorney in Wisconsin
why I believe every adult should have
both so thanks for watching and we'll
see you next time.
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