The Role of Medical Representation Agreements in Estate Planning: Understanding Your Options
Medical representation agreements, also known as a medical power of attorney or healthcare proxy, are an important part of estate planning.
These agreements allow you to designate a person to make medical decisions on your behalf in the event that you are unable to make them yourself. If you’re considering a medical representation agreement, here are some key points to understand about your options.
You can choose your own medical representative – One of the key benefits of a medical representation agreement is that you can choose the person who will make medical decisions on your behalf. This person, known as your medical representative, can be a family member, friend, or trusted advisor. It’s important to choose someone who you trust and who understands your wishes for your medical care.
Medical representation agreements can be broad or specific – Medical representation agreements can be broad, giving your medical representative the authority to make all medical decisions on your behalf, or they can be specific, limiting their authority to certain decisions or situations. For example, you may want to give your medical representative the authority to make decisions about your medical care, but not the power to make decisions about your financial affairs.
Medical representation agreements can be revoked – Another important point to understand about medical representation agreements is that they can be revoked at any time. If you change your mind about who you want to make medical decisions on your behalf, or if you no longer want to have a medical representative, you can revoke the agreement. Be sure to keep a copy of the revocation in a safe place and inform your medical representative and healthcare providers of the change.
Overall, medical representation agreements are an important part of estate planning.
By understanding your options and the role of these agreements, you can make informed decisions about your medical care and ensure that your wishes are respected.