I found out something about Power of Attorney. A lot of financial institutions will not honor them after the person you're representing has lost mental capacity. It's to ensure there's no elder abuse, theft, etc.
I use the same estate attorney as my mom and he mentioned that I should look into this. My mom is a very active 92 going on 93 in a couple of months. She still drives to the gym 4 days a week, MahJong, quilt groups, maintains her home & roses, etc. My goal is just to out live her. The joke is that she is going to outlive all of her kids. Her dad was still bowling a 145 average at 98.
I spoke with Fidelity and her bank. Fidelity sent out some forms to fill out, get notarized, and then send back with a copy of the POA. The bank just needs a copy of the POA for their legal department to review. She has everything set up in a trust as do we, so it should not be a big deal.
I bring all this up just in case you don't have a spouse, but have a POA. Checking with your financial institutions now will save your representative a whole lot of grief and legal fees, in case dementia or alzheimer's becomes an issue.
I use the same estate attorney as my mom and he mentioned that I should look into this. My mom is a very active 92 going on 93 in a couple of months. She still drives to the gym 4 days a week, MahJong, quilt groups, maintains her home & roses, etc. My goal is just to out live her. The joke is that she is going to outlive all of her kids. Her dad was still bowling a 145 average at 98.
I spoke with Fidelity and her bank. Fidelity sent out some forms to fill out, get notarized, and then send back with a copy of the POA. The bank just needs a copy of the POA for their legal department to review. She has everything set up in a trust as do we, so it should not be a big deal.
I bring all this up just in case you don't have a spouse, but have a POA. Checking with your financial institutions now will save your representative a whole lot of grief and legal fees, in case dementia or alzheimer's becomes an issue.
