Adding a power of attorney to your estate plan is a necessary step toward preparing for a potential decline in health. This document can grant another person the legal authority to make decisions about finances, healthcare or other personal matters on your behalf.  Deciding when to include a POA in your estate plan depends on several factors and your current life circumstances. When there is a potential for illness If you have a condition that could worsen over time, such as Alzheimer’s disease or dementia, it becomes important to have a trusted person who can make decisions on your behalf. Without a power of attorney, the court may need to step in to appoint a guardian, which can be a time-consuming and costly process. When you are ready for end-of-life planning Even if you are in good health, aging comes with increased risks for accidents or sudden illnesses. Adding a POA early ensures that decision-making authority is in place if something unexpected happens. A durable power of attorney allows the agent’s authority to remain intact even if you become incapacitated for any reason. When you are creating a will or trust In addition to health reasons, many people add a POA when making other estate planning decisions. A POA works in tandem with documents like a will or trust. This ensures that if you become unable to manage your financial affairs before death, a POA will pay outstanding bills and manage ongoing investments. When you are preparing for extended travel People who travel often or live abroad may benefit from having a POA. Granting decision-making authority to someone in your home state will empower them to take care of property management or legal issues even if you are out of the country. Ultimately, a power of attorney is a valuable part of a comprehensive estate plan. Carefully consider your estate planning needs and take steps to add a POA as soon as it becomes necessary for protecting your interests.  The post When should you add a power of attorney to your estate plan? first appeared on Bayliff, Harrigan, Cord, Maugans & Cox, P.C..