Your designee should be someone you closely trust and you should hold onto the document until it is necessary. However, you should tell your designee where the document is kept should it become necessary. Make sure that you provide for an alternate designee. The Durable Power of Attorney becomes especially important when planning asset transfers and when qualifying for Medicaid. A Durable Power of Attorney is a relatively simple 2-sided form.
Most states have their own form, which can be purchased at most stationery stores.
Make sure that you have a Durable Power of Attorney form for each state in which you hold property. The Last Will and Testament and Durable Power of Attorney documents deal with control over financial and legal matters. You Last Will and Testament and Durable Power of Attorney can not help your loved ones decide that or act on it in the case you become incapacitated by a stroke, accident or Alzheimer's Disease. A Living Will is another relatively simple 2-sided form that spells out how you feel about your medical destiny. The Living Will is limited to your wishes regarding life support systems only.