Difference between revisions of "Preparing a Power of Attorney"

Preparing a Power of Attorney (view source)

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 If your income is directly deposited into your bank account, you could set up a '''joint bank account''' with a trusted relation or friend. That person could help you with paying bills and making withdrawals. (A joint bank account introduces some risks that other planning options don't. For example, any person named on the joint account is able to withdraw money at any time. As well, if one of the account holders dies, the surviving account holder becomes the owner of the account.)
-==With a power of attorney, you can still make decisions==
-Making a power of attorney does not remove your decision-making rights. Decision making is not given away; it is shared between you and the attorney whenever possible. Your attorney cannot override a decision made by you while you are capable.
-Your attorney has a legal duty, to the extent reasonable, to foster your independence and encourage your involvement in any decision-making that affects you.
 ==The time to make a power of attorney==