Showing posts with label power of attorney. Show all posts
Showing posts with label power of attorney. Show all posts

Sunday, October 24, 2021

When should you consider getting a Power of Attorney?

When should you consider getting a person to act for you by giving them a Power of Attorney? There might be a series of warning signs as set out below that you should take seriously.

        You often make serious mistakes, such as forgetting to take medications or pay the bills, failing to file tax returns, pay property taxes or insurance premiums, or you get lost when walking or driving to familiar places.

        You’ve made some unwise choices and lost a significant amount of money and are at risk of losing more.

        You’ve been admitted to a nursing home, skilled nursing facility, or assisted living facility, or you’re spending a lot of time in the hospital.

        You’ve been diagnosed with a serious disease or physical condition that’s distracting and disruptive. Examples include heart disease, stroke, some cancers, and injuries or accidents that require lengthy hospitalization. A fall resulting in serious injuries can be an indicator of significant frailty and vulnerability.

        You’ve been diagnosed with Alzheimer’s disease or related dementia.

        You’ve been diagnosed with a serious mental illness or traumatic brain injury.

         Your spouse or partner who manages your money passes away or is diagnosed with a condition such as dementia, making it hard for them to continue handling things.

         New ‘friends’ appear and seem to have access to your home, computer, or finances.

         Charges appear on your credit card for unusual purchases or new charitable causes – charges that you don’t remember.

         Your doctor, lawyer, accountant, or financial advisor contacts you or your financial advocate to express concern.