Wednesday, May 13, 2015

How Do I Use a Power of Attorney for Mom or Dad?

You or your parent should give a notarized copy of the power of attorney to each bank or financial institution where mom or dad wants you to have authority. It is possible that if mom or dad wants you to have access to their accounts, the bank or financial institution may require them to sign their own authorization form and a signature card for you as their agent. Checking with the banks and financial institutions about their requirements before mom or dad’s health declines will help to avoid future difficulty in using the power of attorney.

When you sign as an agent on your parent’s behalf, it should always be clear that you are signing as the agent. The signature should look similar to this:

__________ (Your parent’s name) by __________(Agent's name), agent for _________(Your parent’s name).

This signature or something similar indicating you are acting as an agent is preferable because it will be clear that you are signing on your parent’s behalf only and you will not be liable for the transaction.
Written by Heather W. Winter, Esquire


Wednesday, May 6, 2015

Caring for Mom & Dad

Americans are living much longer lives and considerable growth is expected in the older population (aged 65 years and older). In 2012, the estimated population of older people was 43.1 million. The population aged 65 years and over is projected to almost double by 2050 to 83.7 million people. As Americans age, many older people will need assistance with activities of daily living such as bathing, dressing, eating, toileting and/or medical tasks. Today, family members are providing much of the care for their parents. This Thursday, May 7, 2015, PBS is airing a new hour-long documentary called “Caring for Mom & Dad,” narrated by Meryl Streep. The documentary explores the emotional, health and financial challenges that many caretakers experience on a daily basis. The special follows eight families as they struggle with these issues and offers solutions and tips to other families who may experience caregiving in their future. Check your local listings to see when PBS will be airing the documentary in your location. 

Written by Heather W. Winter, Esquire