A Quick Way to Ensure You are Well-Represented

When my parents health started to fail, I was the adult child that was local and stepped up to help. While my parents had planned well, what I needed was information on their accounts, the locations of their personal documents, and access to their online accounts to help reset codes and update account information.

While I wrote a book that will walk you through this process, I am happy to give you a summary of what you need to collect and organize so you can do it yourself. Having a summary of this will help your spouse, partner, and loved ones that will step in to help should you need it.

Every adult should have a Durable Power of Attorney. It gives someone the ability to step in for you and pay bills, and manage your financial affairs if you are unable to do this — even temporarily. We did this for my son when he turned 18, and I used it to file his taxes one year when he was traveling.

For those of you caring for someone, you know how important, frustrating, and necessary it is to have this document in place. What many people don’t know is how difficult and time-consuming it can be to have a financial institution recognize the document. Many couples don’t realize until, it is a problem, that being married does not give you instant access to a spouse’s account if you are not named on it.

In hopes of giving you a simple guide to organize this information for yourself, I am releasing this free download.

Get a free copy of this guide at http://www.MemoryBanc.com/POA

Feel free to share it with everyone you love. Offered.

The Basic Life Preparedness Tool: Durable Power of Attorney

POAAs we move into the holiday season and prepare to enjoy time with family and friends, consider finding out if loved ones have a durable power of attorney. Everyone should anticipate that they may be unable to handle their affairs at some point during their adult lives. A power of attorney gives the individual you appoint the ability to act on your behalf until you recover.

As soon as you reach 18, it’s recommended that a power of attorney is in place with a trusted family member.  Parents have found that they are unable to learn about an adult child’s healthcare issues if they don’t have a medical power of attorney in place — even through they are paying for their healthcare expenses.

The statistics regarding the likelihood that you may need someone to step in and help are alarming—some 43 percent of all people age 40 now will have a long-term disability event (lasting 90 or more days) prior to reaching age 65. And seven out of ten people who turn 65 today will need some type of long-term care services and support lasting three or more years.

A durable power of attorney typically costs just a few-hundred dollars. We recommend you consult with a lawyer dedicated to the practice of estate law licensed in your state to determine your needs.

Related News Stories

The Power of Attorney Can Help With a Loved Ones Care
Your Daily Journal 11/28/2014
A good overview explaining the benefits of a power of attorney.

Veterans Fighting Back Over Power of Attorney
WTNH 11/13/2014
A story that illustrates the risk of not already having a power of attorney in place.

Guardianship vs. Power of Attorney Not Usually Choices
Poughkeepsie Journal, 11/9/2014
The expense and cost to your dignity when a loved one has to petition the court for guardianship make a power of attorney the preferred choice.

If you want to learn about my life experience (both good and bad) in using a Durable Power of Attorney to help my aging parents, check out Dealing with Dementia.