Power of Attorney for financial affairs
My husband is in the early stages of dementia. I have trusted him completely in financial dealings but he no longer remembers and I have no idea where to go to find necessary info regarding his pension, IRA, or other issues that I know I need to attend to. I am lucky that my son is willing to help me. He says he needs to have power of attorney for financial matters. Where do I get the proper authorization for my son to make phone calls and inquiries on our behalf? We have a trust and will but the attorney who did the work was very expensive and I was hoping to find a more reasonable person to help us.
Terry Says
I’m going to make this part easy. I’m assuming you live in Illinois. In that case go here to download the forms. You should sign one as well as your husband. It would be best to have the signatures notarized.
https://www.lawdistrict.com/power-of-attorney/?utm_source=google&utm_medium=cpc&gclid=Cj0KCQjwxIOXBhCrARIsAL1QFCazuN9KrIjQRgmvrIEaaJ2XJEreicI1EhlHDjouLfHeKkD5Je_ftqUaAha_EALw_wcB
If you live in another state, google “durable power of attorney in ….”
But honestly that’s not enough. This is the time to get everything in order per my latest column posted on my site. Lists, lists of all assets, account numbers, passwords. Double check beneficiaries on life insurance and IRAs. Easy to change now, not so easy later.
If you live inIllinois i recommend just one meeting w Kerry Peck (per my column) right NOW! bring your documents. It won’t be expensive and could save you a fortune in $$ and angst down the road.
