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.
