James Dyson is a British inventor.  He is known to many as the “Dyson Vacuum Guy” that appears in Dyson commercials pitching the quality and value of Dyson vacuums.  Many can put two and two together and realize that James Dyson is the founder of the Dyson Company.  James Dyson started out as a struggling inventor who worked tirelessly for decades to establish his brand of vacuums as a market leader in terms of quality and innovation.  He is now worth nearly $1.5 billion dollars.  Dyson has noted that his success can largely be attributed to his willingness to take risks:

“I spent about five or six years developing a completely different kind of vacuum cleaner. I built over 5,000 prototypes to get the system to work. Every year I was getting further and further into debt. In the end, I owed something like $4 million. I took out two or three mortgages on my house. If I failed, everything I owned would’ve gone to the bank. Everybody thought I was completely mad. [As it turned out] I repaid the bank loan within about four or five months of first selling the product. The bank kept using me in their advertising as an example of how they loan money”  -James Dyson

While James Dyson’s risk taking played out in his favor, risk taking can sometimes end badly for the risk taker.  Our world is filled with risk. We flirt with risk on a daily basis. While some of our day-to-day activities pose a greater risk than others, everything we do poses some degree of risk. We have to rely on our ability to gauge and analyze potential risks and decide whether to engage in that “risky” behavior.  Driving a car, walking to the mailbox, crossing a street, and walking through a store are all activities that involve some degree of risk.  Is there a way to help alleviate the ill effects of risk in our lives?  One important tool that can do this is a Medical Power of Attorney.  This important estate planning tool gives you a voice when you are no longer able to let your voice be heard.  A Medical Power of Attorney is a legally-binding wish list that your health care representative must adhere to when making medical decisions in your stead.

In the world of estate planning, a Medical Power of Attorney is your written directions to family and physicians concerning your health care should you become unable to make medical decisions for yourself. A Medical Power of Attorney allows you to name individuals that are authorized to make health care decisions for you if you cannot speak for yourself. It also gives you the ability to leave written directions concerning how your health care should be carried out. Once your Medical Power Attorney is signed, it becomes a legal directive concerning your health care should you become incapable of making your own health care decisions.  An experienced estate planning attorney can assist you preparing a Medical Power of Attorney that fulfills your needs.

Additional reading on Medical Powers of Attorney:

The Importance of a Medical Power of Attorney

 

 

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