Tuesday, September 27, 2011

Trust But Verify

Everyone who is old enough to vote is old enough to have a will. Power of Attorney documents should also be set up at the same time as well as Advance Directives. These should all be reviewed every 5 years or so or when there is a significant change in circumstances.
What sometimes happens is that sometimes there is family strife and seniors may be told that Person A is now in charge of the money and medical decisions. Don't take this at face value. Insist on seeing the documents in question and verify the signatures. Bear in mind that a document is not enforceable if the person signing away rights is not competent to do so. If your estranged relative has signed over control of finances to someone after they have been diagnosed with dementia or Alzheimer's challenge the documents through your attorney. This is especially important if you feel that this person does not have your best interests in mind.

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