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.
