While you may find it hard to use with some financial institutions, you will need to have one — especially if there is a dementia diagnosis. The only other option is Guardianship and that isn’t a fun road for anyone.
As 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…
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