Let's talk about the Power of Attorney and the option of a Living Will. I'll address the FAQs and then you can email or call if you need more details.
Do I have to have these?
Technically, no. These are personal documents governing your personal affairs. Therefore, we cannot require them. However, I couldn't possibly place a higher emphasis on recommending these two documents. So while I won't hunt you down and make sure you did this… You really, REALLY should.
What are these?
First, let's talk about the Power of Attorney. Because you are an adult your information and decisions are protected by privacy laws. The Power of Attorney gives someone the legal right to make decisions or receive information on your behalf.
This is most commonly used for Financial needs for World Racers. So for example, say your debit card gets stolen. Someone back home will need to go to your bank and fix that for you. No one can do that unless they have been given the legal right. You will also need someone to pay your taxes.
You may need a separate power of attorney for every financial need based on the requirements of that institution. For example, the IRS has a completely separate document they require. Most banks have a special document. Your insurance may have a special document. Do your research.
The most important use of a POA is for Medical needs. If you get sick, someone may need to get medicine back home to be sent to you. If you are incredibly sick and unable to make your own decisions, this person may make decisions for you.
Along those same lines, there is a document called a Living Will. This document is a legal statement saying what your wishes are should you not be able to communicate those wishes. So, in the most extreme case, if you are unconscious with a life-threatening illness, the Living Will tells the doctors whether they should put you on life support and keep trying or not.
How do I get one?
This could be the tricky part. Details about POA's and Living Will's are governed by state. So for the basic starting point, you should Google Power of Attorney Texas (or whatever state you live in). Do your research and see what is required for you.
Special Circumstances
Some of you have more complicated situations than others. I HIGHLY recommend that you consult an attorney to be sure EVERYTHING is covered for you. If you have investments (like Real Estate) you'll need more details. If you have legally binding matters (like banks or insurance) in one state, but your Power of Attorney lives in another state, you'll need more details.
Do we send this to you?
We do not need a copy of these documents. Ultimately, the person who IS the power of attorney needs the original of the document. Please be sure that document is filed in a safe place and the appropriate people know where it is and what to do with it.
It would be beneficial for us to know who your Power of Attorney is. The most logical thing to me would be that your emergency contact and your power of attorney is the same person. Therefore, please update your application in the contacts section so that your emergency contact is the right person.
In the end…
You need to do your research. If you are overseas and something happens without these documents… well… my granddad would say you're up a creek without a paddle. DO YOUR RESEARCH. If you have questions, always feel free to call and ask but you may need to consult someone who knows more than we do.
