Can I Use A Health Care Power of Attorney to Take Out a Loan?

Full Question:

My husband has a 'Life-Prologing Declaration and Health Care Durable Power of Attorney' Can I use this as proof to apply for a loan to pay some of our bills? He appointed and designated me to act on his behalf.Thank You,Jackie
07/30/2009   |   Category: Living Wills   |   State: Florida   |   #17870

Answer:

A living will is a document that allows a person to explain in writing which medical treatment he or she does or does not want during a terminal illness. A living will takes effect only when the patient is incapacitated and can no longer express his or her wishes. The will states which medical treatments may be used and which may not be used to die naturally and without the patient’s life being artificially prolonged by various medical procedures. The living will allows a person to make the decision of whether life-prolonging medical or surgical procedures are to be continued, withheld, or withdrawn, as well as when artificial feeding and fluids are to be used or withheld.

A health care power of attorney authorizes an agent to make health care decisions for the incapacitated person. It is limited in scope to health care decisions. A general or financial power of attorney may be used to authorize an agent handle financial matters.