Once a person turns 18, s/he is presumed competent in the eyes of the law and their parents are no longer actually authorized to sign documents for them. This can create a vacuum especially if the parents have generally been managing everything for this young adult.
At the other end of the spectrum, older adults may not have anybody who actually has any legal authority to handle things for them. This creates a vacuum if the older adult cannot conduct this business on their own anymore. What kind of things need to be handled? Bill paying. Sale of property. Taking out home equity Loans. Closing or opening bank accounts. Setting up a reverse mortgage. Selling or buying stock. Decisions about medical treatment. Changing an insurance policy. Collecting financial records to submit with benefits applications. Many people have informal arrangements in place in which a person who is aged or disabled has another person who handles their bills and accompanies them to appointments, doctors, etc. to help them get things done. But those arrangements can only go so far.
In a Power of Attorney document, you select a trusted person who will be authorized to act on your behalf if necessary, and you can name additional back-up people also. The document can be tailored to your personal situation. The powers of attorney you need are designed to ensure that there is somebody with actual legal authority who can step in when necessary, and that there is a successor as well. We have streamlined the document signing process to minimize in-person contact, and we are doing our legal consultations by telephone.
Call for advice and to set up your power of attorney.We have streamlined the document signing process to minimize in-person contact, and we are doing our legal consultations by telephone. Mention FRE-L at Home … 732-382-6070