What is a healthcare power of attorney?
A healthcare power of attorney (“POA”) is a legal instrument that allows you to select the person that you want to make healthcare decisions for you if and when you become unable to make them for yourself. The person you pick is your agent/representative for purposes of healthcare decision-making.
What types of healthcare decisions can be covered by POA?
A POA can govern any kind of decision that is related to your health that you allow. You could, for example, limit your representative to certain types of decisions. Or, you could allow your representative to make any healthcare decision that might come up. This includes decisions to, say, give, withhold, or withdraw informed consent to any type of health care, including but not limited to, medical and surgical treatments. Other decisions which may be included are psychiatric treatment, nursing care, hospitalization, treatment in a nursing home, home health care, and organ donation.
How is a healthcare POA different from a living will?
A living will is a statement of decisions you made for yourself. It tells medical care providers, for example, that you do not want to be kept alive by machines, if there is no hope of getting better. A healthcare POA gives someone else the authority to make medical decisions for you if you are unable to make them for yourself. The healthcare POA allows you to pick the person that you trust to make to these kinds of decisions when you cannot make them yourself.
Do I still need a living will if I have a healthcare POA?
Yes. Any decisions that you make in your living will must be followed by the person you name as your agent in your healthcare POA.
When would I use a healthcare POA?
A healthcare POA is used when you become unable to make healthcare decisions for yourself. This can be so important, that your agent is able to make decisions – and access records, communicate with healthcare providers, and so on.
Do you have a healthcare POA? Why or why not? Let me know your thoughts.
I work with Iowa nonprofits, and the donors who fund them — more here. But today, Friday, is perhaps a particularly good reminder about the importance of charities and charitable giving.
My favorite hour of the week happens on Friday — from 9 a.m. to 10 a.m., Iowa time. Every week the great Tom Ashbrook of NPR‘s On Point summarizes the news of the week. It’s just a great news show, and especially on Friday, as it catches me up on anything I’ve missed during the week.
Later today, Monica and I will walk down from our new place to Fry Fest, to join everyone in a huge pep rally. Whether you are a Hawkeye, or a fan of another team, the kick off of a college football season is so much fun!
Gordon Fischer Law Firm, P.C. is dedicated to promoting and maximizing charitable giving in Iowa. Gordon can be reached by phone at 515-371-6077; by email at email@example.com; and through his website at www.gordonfischerlawfirm.com.
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For farm operators, gifting grain directly, rather than selling the grain and making a gift from the proceeds, may provide very significant tax savings. Five keys:
- Contributing grain allows Donor to avoid sale of the commodity as income, while the production costs may well still be deductible. Reducing taxable income may provide advantages such as minimizing or eliminating self-employment tax and reducing AGI.
- Be sure the gift is grain commodities, not a grain storage receipt, which could be considered a cash-equivalent-gift.
- The Charity must be able to demonstrate “control and dominion” over the gifted property. Therefore, Donor cannot offer Charity any guidance as to when to sell the commodity.
- There should be no prior sale commitment made before the gift of grain is made, as, again, Charity must be in control of the timing of the sale. After the grain ownership is transferred, the Charity assumes all costs and risk of a down market.
- Many grain farmers annually certify or document bushels of production with a Farm Service Agency for purposes of enrolling that grain production in various agriculture subsidy programs. Potential donors should be urged to accomplish FSA certification before making gifts of grain commodities.