Carolyn M. Young Fiduciary Services is a respected provider of client-driven solutions in areas such as special needs trusts and estate administration. One of the many roles in which Carolyn M. Young Fiduciary Services acts as a fiduciary is after being assigned financial or medical power of attorney.

1. FINANCIAL AND MEDICAL POWER OF
ATTORNEY
CAROLYN M. YOUNG FIDUCIARY SERVICES

2. INTRODUCTION
 Carolyn M. Young Fiduciary Services is a respected provider of client-
driven solutions in areas such as special needs trusts and estate
administration. One of the many roles in which Carolyn M. Young
Fiduciary Services acts as a fiduciary is after being assigned financial or
medical power of attorney.
Also known as general power of attorney, financial power of attorney
involves designating an agent who is authorized to manage personal
finances when mental or physical incapacitation occurs. Alternatively, it
may be used in cases where it is not possible to be in a distant
geographical location for a transaction such as a real estate closing, where
one's physical presence is necessary. With the power of attorney taking
effect immediately upon signing the relevant legal documents, they are
typically not exercised until defined threshold criteria are reached, and
may never come into play.

3. POWER OF ATTORNEY
 Medical power of attorney requires the setting in place of a separate legal
document, the health care proxy. This provides clear designation of the
person with the power to make medical decisions on one’s behalf, when
the ability to do so no longer exists. Such a situation may arise temporarily
in cases such as surgical complications, or be linked to a long term state of
incapacitation related to injury, disease, or aging.
With these two types of advance directives having different purposes, it
makes sense for many individuals to set up both forms of contingency
plans for when one is no longer able to make critical decisions for oneself.