Many of you have had questions recently about getting a Power of Attorney or Living Will and why. MaryBeth sent out this email with a few more details and why they are important. Please be sure you are taking care of these documents!!! All of them are located on the Intranet site and have been reviewed and approved as acceptable in most situations. If you have any questions, please don’t hesitate to ask.
From MaryBeth:
The questions seem to have arisen again about the purpose of the Power of Attorney documents and Living Wills, as well as their requirement.
Let me reply succinctly:
I met with an attorney last week at my own expense to review these documents legally and got a solid “use them, they are good within the USA.”
The
Living Will
outlines each WRers desires regarding advanced life-sustaining measures, should that event occur on the Race. It is a set document, and yet can be expanded by the Racer
//<![CDATA[
u003c/font>u003cfont sizeu003d”2″ faceu003d”Arial”>u003cspan styleu003d”font-size:11.0pt;font-family:Arial”>. u003cb>u003cspan styleu003d”font-weight:bold”>Without such a document, existing laws will
prevail and the thing least desired by a Racer may be the exact thing that
the law of the land determines in the absence of such a document.u003c/span>u003c/b>u003c/span>u003c/font>u003c/li>
u003c/ol>
u003cp>u003cb>u003cfont sizeu003d”2″ coloru003d”red” faceu003d”Arial”>u003cspan styleu003d”font-size:11.0pt;font-family:Arial;color:red;font-weight:bold”> u003c/span>u003c/font>u003c/b>u003c/p>
u003col styleu003d”margin-top:0in” startu003d”3″ typeu003d”1″>
u003cli styleu003d”color:red”>u003cfont sizeu003d”2″ coloru003d”blue” faceu003d”Arial”>u003cspan styleu003d”font-size:11.0pt;font-family:Arial;color:blue”>The u003c/span>u003c/font>u003cb>u003cfont sizeu003d”2″ faceu003d”Arial”>u003cspan styleu003d”font-size:11.0pt;font-family:Arial;font-weight:bold”>Financial
Power of Attorneyu003c/span>u003c/font>u003c/b>u003cfont sizeu003d”2″ coloru003d”blue” faceu003d”Arial”>u003cspan styleu003d”font-size:11.0pt;font-family:Arial;color:blue”> document allows the
Attorney-In-Fact chosen by the Racer to make financial decisions for the
Racer in their absence (while on the Race and out of the USA). Some
financial institutions require an additional POA document. Mine does not,
but it is wise to check. The financial Attorney-in-Fact follows the wishes
of the Racer.u003c/span>u003c/font>u003cb>u003cfont sizeu003d”2″ faceu003d”Arial”>u003cspan styleu003d”font-size:11.0pt;font-family:Arial;font-weight:bold”>u003c/span>u003c/font>u003c/b>u003c/li>
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u003cp>u003cb>u003cfont sizeu003d”2″ coloru003d”red” faceu003d”Arial”>u003cspan styleu003d”font-size:11.0pt;font-family:Arial;color:red;font-weight:bold”> u003c/span>u003c/font>u003c/b>u003c/p>
u003col styleu003d”margin-top:0in” startu003d”4″ typeu003d”1″>
u003cli styleu003d”color:red”>u003cfont sizeu003d”2″ coloru003d”blue” faceu003d”Arial”>u003cspan styleu003d”font-size:11.0pt;font-family:Arial;color:blue”>The u003c/span>u003c/font>u003cb>u003cfont sizeu003d”2″ faceu003d”Arial”>u003cspan styleu003d”font-size:11.0pt;font-family:Arial;font-weight:bold”>Durable Power
of Attorney u003c/span>u003c/font>u003c/b>u003cfont sizeu003d”2″ coloru003d”blue” faceu003d”Arial”>u003cspan styleu003d”font-size:11.0pt;font-family:Arial;color:blue”>document allows a
person designated by the Racer to make decisions other than financial
(although the same person can be Attorney-In-Fact for both documents),
such as decisions regarding healthcare. A scenario is possible that a
Racer could contract cerebral malaria, for example, and not be in a state
of mind to make decisions regarding his/her healthcare, including transfer
back to the “,1]
);
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.
Without such a document, existing laws will prevail and the thing least desired by a Racer may be the exact thing that the law of the land determines in the absence of such a document.
The
Financial Power of Attorney
document allows the Attorney-In-Fact chosen by the Racer to make financial decisions for the Racer in their absence (while on the Race and out of the USA). Some financial institutions require an additional POA document. Mine does not, but it is wise to check. The financial Attorney-in-Fact follows the wishes of the Racer.
The
Durable Power of Attorney
document allows a person designated by the Racer to make decisions other than financial (although the same person can be Attorney-In-Fact for both documents), such as decisions regarding healthcare. A scenario is possible that a Racer could contract cerebral malaria, for example, and not be in a state of mind to make decisions regarding his/her healthcare, including transfer back to the
//<![CDATA[
u003cspan styleu003d”font-weight:bold”>The durable clause is there so that, in the event that a Racer would
become incapacitated, the Attorney-in-Fact would not have to go to the
expense and difficulty of a Guardianship hearing. If a Racer becomes
incapacitated, the document is durable—it remains in effect. u003c/span>u003c/b>u003c/span>u003c/font>u003cb>u003cfont sizeu003d”2″ faceu003d”Arial”>u003cspan styleu003d”font-size:11.0pt;font-family:Arial;font-weight:bold”>u003c/span>u003c/font>u003c/b>u003c/li>
u003c/ol>
u003cp>u003cb>u003cfont sizeu003d”2″ coloru003d”red” faceu003d”Arial”>u003cspan styleu003d”font-size:11.0pt;font-family:Arial;color:red;font-weight:bold”> u003c/span>u003c/font>u003c/b>u003c/p>
u003cp styleu003d”margin-left:.5in”>u003cfont sizeu003d”2″ coloru003d”blue” faceu003d”Arial”>u003cspan styleu003d”font-size:11.0pt;font-family:Arial;color:blue”>Take it from someone who
had to file and manage dozens of Guardianship hearings for others when no
Durable POA was in place, you don’t want to have to go down this road.u003c/span>u003c/font>u003c/p>
u003cp styleu003d”margin-left:.5in”>u003cfont sizeu003d”2″ coloru003d”blue” faceu003d”Arial”>u003cspan styleu003d”font-size:11.0pt;font-family:Arial;color:blue”> u003c/span>u003c/font>u003c/p>
u003cp styleu003d”margin-left:.5in”>u003cb>u003ci>u003cfont sizeu003d”2″ coloru003d”#339966″ faceu003d”Arial”>u003cspan styleu003d”font-size:11.0pt;font-family:Arial;color:#339966;font-weight:bold;font-style:italic”>It is my firm belief that these documents,
or a legally binding version thereof, should be required of each Racer. The
lack of these documents could cause a great deal of expense, time, and possibly
an outcome that would be vociferiously opposed by the Racer if he/she would
have been able to execute decisions for himself/herself.u003c/span>u003c/font>u003c/i>u003c/b>u003c/p>
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);
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USA. This document gives legal authority to the durable Attorney-In-Fact to make decisions for you other than financial.
The durable clause is there so that, in the event that a Racer would become incapacitated, the Attorney-in-Fact would not have to go to the expense and difficulty of a Guardianship hearing. If a Racer becomes incapacitated, the document is durable—it remains in effect.
Take it from someone who had to file and manage dozens of Guardianship hearings for others when no Durable POA was in place, you don’t want to have to go down this road.
It is my firm belief that these documents, or a legally binding version thereof, should be required of each Racer. The lack of these documents could cause a great deal of expense, time, and possibly an outcome that would be vociferiously opposed by the Racer if he/she would have been able to execute decisions for himself/herself.
