What are the Types of Power of Attorney in Iowa?

There are two primary powers of attorney available in Iowa. Continue reading to learn more about the differences between a health care power of attorney and financial power of attorney and how each power of attorney may benefit you and your estate plan. If you have any additional questions regarding this process, do not hesitate to reach out to our experienced estate planning attorney.

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What are powers of attorney?

A power of attorney is a written authorization to present or act on another individual’s behalf in legal, business, or private affairs. Powers of attorney are critical documents that allow individuals to find peace of mind knowing their assets and medical needs will be protected. It is important to appoint a person you trust to act as your agent when creating a power of attorney. It is also important that you retain the services of an experienced attorney who can assist you in creating your power of attorney with the necessary legal guidance.

What are the two most common types of power of attorney in Iowa?

There are various types of powers of attorney. The two most common types of power of attorney in Iowa are as follows:

Healthcare power of attorney: A healthcare power of attorney gives the appointed agent the right to make certain medical decisions on your behalf, should you be unable to do so on your own.

Financial power of attorney: A financial power of attorney gives the agent the right to make certain key financial decisions on your behalf if you are unable to do so on your own. Decisions that the agent will be able to make while managing your bank account include the following:

Handling your tax returns
Managing your business

What is a living will?

A living will is a legal document that individuals will use to document their wishes for life-sustaining treatments if they are ever in a terminal condition such as a vegetative state. Some individuals will prefer to be kept alive in this circumstance while others will wish to not be placed on ventilators or feeding tubes if those treatments would only ultimately prolong death. Drafting a living will can ensure that your wishes are properly carried out if this situation was to ever arise.

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Herting Law, PLLC, is an Iowa-based law firm designed to help with all of your legal needs. If you need a Des Moines criminal defense lawyer, our firm has significant experience in all criminal matters, including OWIs, drug charges, gun crimes, theft, assault, and more. If you need an estate planning lawyer, our firm can guide you through it all, including drafting wills, trusts, and the administration of your estate. Whatever the situation, Herting Law, PLLC has you covered.