What are the differences between a “financial power of attorney” and a “medical power of attorney”?
An “attorney-in-fact” under a financial power of attorney does not possess the power to make health care decisions. Some forms attempt to combine the financial and health care functions into one form. We think this is confusing and could potentially cause problems under the laws of some states; therefore, we keep the forms separate them also it is not uncommon to see financial and medical POAs combined in one form. However, there is no prohibition against having the same individual serve as “agent” under a health care directive and, also, as your “attorney-in-fact” under a financial power of attorney. In our forms system, the “attorney-in-fact” under a financial power of attorney is not given the authority to make anatomical gifts of body parts (this can be done with the Advanced Medical Directive). • Do I need a financial power of attorney if I already have a revocable trust? Generally, your need for a financial power of attorney has been substantially reduced if you have a revocable
