Powers of Attorney: Who Speaks for You When You Can’t?

A power of attorney is a legal document that authorizes someone you trust (your “agent”) to make decisions on your behalf. There are two types: a medical POA for healthcare decisions and a financial POA for managing your money, property, and legal affairs.

Yes. Accidents and sudden illness can happen at any age. Once you turn 18, your parents no longer have legal authority to make medical or financial decisions for you — even in an emergency. A POA ensures someone you trust can step in immediately.

A medical POA authorizes your agent to make healthcare decisions — choosing doctors, consenting to treatment, and making end-of-life decisions. A financial POA authorizes your agent to manage money, pay bills, handle investments, and conduct business on your behalf. Most people need both.

Possibly, but not reliably. Colorado’s Proxy Decision-Maker Statute allows “interested persons” — including your spouse, parents, children, and siblings — to reach consensus on a proxy decision-maker. But if anyone disagrees, decisions can be delayed or require court intervention. A medical POA removes this uncertainty entirely. For finances, your spouse has no automatic authority over your individual accounts at all.

“Durable” means the document remains effective even if you become mentally incapacitated. A regular (non-durable) power of attorney automatically terminates when you lose capacity — the exact moment you need it most. For estate planning, a durable POA is almost always the right choice.

A medical POA names a person to make healthcare decisions for you. A living will (advance directive) documents your specific wishes about end-of-life treatment — like whether you want life support. They work together: the living will states your wishes, and your agent carries them out.

Yes, and many people do. If one person has the qualities you trust for both roles, naming them for both simplifies things. However, you can also name different agents if one person is better suited for medical decisions and another for financial management.

Yes, at any time, as long as you’re mentally competent. You simply sign a written revocation and notify your agent and any institutions that have a copy. It’s a good idea to review and update your POA every few years or after major life changes.

For medical decisions, Colorado’s Proxy Decision-Maker Statute allows your family to try to reach consensus on who decides — but disagreements can cause dangerous delays. For financial decisions, there is no fallback at all: your family must petition the court for a conservatorship, which is expensive, time-consuming, public, and ongoing. A POA avoids both scenarios.

Yes. A trust only covers assets that have been transferred into it. You still need a financial POA for bank accounts, retirement funds, tax filings, and other assets outside the trust. And a medical POA is completely separate — trusts don’t address healthcare decisions at all.

Most will, but some push back — especially on older documents or those with vague language. An experienced estate planning attorney drafts POAs with language that financial institutions are accustomed to accepting and can intervene if a bank or brokerage refuses to honor your document.

You must be mentally competent when you sign. Financial POAs must be notarized. Medical POAs should be witnessed by people who are not your agent or healthcare provider. The document must clearly identify your agent, their powers, and any limitations you set.