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One last note on Power of Attorney.


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Depending on your situation, you probably want to designate someone to make medical decisions regarding you if the time comes when you are alive but not able to handle your own affairs.

At the very minimum, your children, if you have them, should have this POA. It's usually called a  Durable Power of Attorney.

Too often when someone is in a situation where they can not make their own decisions, it takes time to find someone with the authority to make those decisions. I saw one case oiling where a person was injured in an accident and in ICU. No relatives located. She ultimately was put on life support. When finally a relative was located, it was determine it was time to "Pull the plug."  This was done, but in the interim, a massive hospital bill built up that ended up eating most of the "estate" of the woman.

I can't imagine what the bill would be here in Mexico for an extended stay in ICU and then life support, even for a "short" time.

A Durable Power of Attorney enables the Agent to act for the Principal even after the Principal is not mentally competent or physically able to make decisions. This document may also come into effect immediately and can also be revoked by the Principal or at the time of the Principal's death. Finally, a Springing Power of Attorney is designed to become effective only upon the occurrence of a certain event chosen by the Principal (such as illness or disability). Often, this document depends upon the Principal's assessment by a physician that he or she is no longer competent to handle financial affairs. This document may be revoked by a court, or by the death of the Principal.

Not a fun subject, but death is the only guarantee we have in life.

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