Legal Documents for Caregivers
Legal Documents Caregivers Must Have " A Durable POA (Power of Attorney) provides the legal permissions necessary for someone else to pay household bills, living expenses, taxes, investments, purchases, and other financial tasks " when they are unable to do it for themselves. ( FinancialHealth.net ) The article seems to be written for pre-planning for the individual who MAY need the assistance or for when the assistance is actually required and before a person may not have the mental capacity for making the choice (hence why it is DURABLE). A regular Power-of-Attorney will CANCEL if and when the principal becomes mentally incapacitated and cannot make their own decisions. Since MANY married couples already share property and bank accounts, there may be no need to designate a Durable Financial Power of Attorney on the chance of mental incapacitation unless there is property/accounts held in one name only; some states also restrict the complete sale of jointly ow