Healthcare Power of Attorney: A Must-Have for Retirees
When it comes to retirement planning, most people focus on savings, income, and insurance. But there’s another essential piece of the puzzle—one that often gets overlooked until it’s too late: a Healthcare Power of Attorney(HCPA). This simple legal document can have a profound impact on your quality of life and your family's peace of mind if a medical crisis arises.
If you're over 60 and planning for the years ahead, now is the time to make sure you have this protection in place.
What Is a Healthcare Power of Attorney?
A Healthcare Power of Attorney is a legal document that designates someone you trust—your “agent” or “proxy”—to make medical decisions on your behalf if you become unable to do so yourself. This could be due to illness, injury, surgery, or age-related cognitive decline.
This document only comes into play when you're unable to speak for yourself, but when it’s needed, it’s critical.
Why It Matters in Retirement
As we age, the likelihood of needing medical care increases. If you’re ever hospitalized, unconscious, or facing a life-threatening illness, medical providers will need someone to make decisions about your care. Without an HCPA in place:
Your spouse or adult children may face delays or legal hurdles trying to make decisions.
Family disagreements may arise over what treatment you would want.
You risk having medical care decisions made by someone who doesn’t know your wishes.
Having a Healthcare Power of Attorney ensures your voice is heard—even if you can’t speak—and that the person making decisions understands and respects your values.
Healthcare Power of Attorney vs. Living Will
A Healthcare Power of Attorney allows someone to make medical decisions on your behalf.
A Living Will, on the other hand, spells out your specific wishes about end-of-life care—such as whether or not you want to be kept on life support.
For complete protection, you should have both documents. Together, they cover your preferences and assign someone to carry them out.
Who Should You Choose as Your Agent?
Your agent should be someone:
You trust completely
Who knows your values and medical preferences
Who can stay calm under pressure
Who can advocate for your wishes—even if others disagree
Many people choose a spouse, adult child, sibling, or close friend. Be sure to have a conversation with this person so they fully understand what you’d want in different medical scenarios.
How to Set It Up
Creating a Healthcare Power of Attorney is easier than you might think. You can:
Use an attorney, especially if you're also creating a will or estate plan
Work with a retirement planner who partners with legal professionals
Use state-specific legal forms (many are available for free)
Be sure to keep copies on file with your doctor, your agent, and in your home. Let your loved ones know it exists and where to find it.
Don’t leave your healthcare decisions to chance. At Sound Retirement Solutions, we help you think beyond savings and income—guiding you through critical documents like a Healthcare Power of Attorney. Let’s make sure your retirement plan protects your health, your wishes, and your loved ones. Schedule a planning session with one of our retirement planners today.
