Our Bolingbrook elder law attorneys explain why Power of Attorney forms are an essential part of a good estate plan. The purpose of Powers of Attorney is to appoint loved ones to manage your affairs if you should become mentally incompetent through old age, illness, or disease. If you execute both a Financial Power of Attorney and a Healthcare Power of Attorney while you are still mentally competent, a costly, time-consuming, and stressful guardianship proceeding will not be necessary in order to allow your loved ones to make decisions for you if you become mentally incapacitated.