A Power of Attorney specifies who will manage your property during your lifetime, in case you are unable to do so yourself.  As Daniel O. Tully, Eldercare attorney, points out you should start the conversation soon. 

No one wants to face the fact that our loved ones will not be with us forever. Facing our own mortality is frightening as well.  Don’t be afraid to start the conversation. Whether you are a parent talking to your children, a husband talking to a wife or an adult child talking to an aging parent, bringing up the topic of death and disability can be difficult, but it is an important conversation to have.

Although none of us wants to contemplate a time when we or a loved one might become disabled or die, it is important to be prepared. There are many steps families can take in advance of death or disability to avoid future conflicts or uncertainties.

You need to be covering:

• a power of attorney in case of disability
• a health care power of attorney giving someone else the authority to communicate your wishes about medical treatment, if you are unable to do so
• estate planning
• a will
• Funeral arrangements

You should also list information on the location of assets, such as bank accounts, property and stocks and bonds; the identity of important professionals who might have information about your estate; and the location of important records, such as loan, insurance and tax documents. The list can also contain things you want done immediately after you die, such as calling relatives or notifying employers.

It is important that Families must communicate and respect the designated Power of Attorney. A failure to do so can cause major problems.  A family member who is unaware of an existing Power of Attorney may grant rights to others that are counter to what has been authorized in the POA. 

When relatives are in declining health,  a POA should be registered with banks, investment firms, doctors, credit card companies and indeed any other company or institution they may have dealings with. Even their drugstore should have a copy.   Only in this way can the individuals rights and wishes be preserved and honored.

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