Power of Attorney

Every adult over the age of 18 needs power of attorney. Here are some of the circumstances that might apply:

• Your 18-year-old goes off to college and you jointly own a car. You need to change the registration, but don’t want to wait until they are home and waste vacation time to go together. If you get them to sign a power of attorney document before they leave for school, you can just grab it and take care of what you need.
• Your going about your life as a married person and your spouse falls ill — too ill to sign paperwork or make financial decisions. You need to put your hands on money fast, but can’t take out a second mortgage, make a withdrawal from their IRA or get any money out of their separate bank account. You need a power of attorney to get the money you need.
• Your dad died a long time ago, and your mom is starting to show signs of cognitive decline. You want to help her with her bills and all the other financial matters she needs to handle that are just too hard for her. You need a power of attorney to do this legally — you can’t just pretend you are her and sign into her accounts.

Here are some resources you might need