Sponsor spotlight: You need a power of attorney

You really do need a Power of Attorney (POA.)

Why is that?

If you become hospitalized or in a care community, the people who care about you are going to need get information about your condition. They may need to make decisions about your care.  They may need to make financial or business decisions on your behalf.

Even your husband or wife, or a close relative may be denied information. Banks or other financial institutions may deny you access to financial information and funds.

Having a Power of Attorney, given to someone you trust, assures that care givers share information with them.

Should someone you trust need access to your financial resources if you become incapacitated, they will need a Power of Attorney.  Banks legally must honor these.

Powers of Attorney should be drafted in consultation with an attorney, but they are relatively quick to produce and relatively inexpensive.

Powers of Attorney, like Wills, do need to be signed in person, and witnessed and notarized.

— By Attorney Peggy Sanders