Power of Attorney-should we?

[Simba's Mom]

DH travels a lot internationally (like at least 1 week a month) and we're in the process of trying to sell our house and buy a smaller one ("empty-nesters"). Last night, we discussed my having a power of attorney so that I can sign legal documents for both of us if something comes up while he's away. Anyone have any idea if this is something we might benefit from? And if so, how do we go about getting a Power of Attorney? I thought of asking the realtor, but she's out of town for a couple days.

 

[Breezy_Carol]

DH and I have had Power of Attorney on each other for many years. He has a business, and God forbid something should happen, I would be able to write checks, make payroll, etc. Go to an attorney to have it done. It is pretty standard and shouldn't cost too much. While you are there, have a will done too. It makes things so much easier if the terrible should happen. And it can always be changed. Ours is "just incase". I also have power of attorney for my elderly mother so I can help her with her affairs. (BTW, I am 50 years old.)

 

[flrose]

We got one when were moving here to Ga. so that I didn't
have to take off work for the closing on our house. My Dh came up and took care of things and I followed a week later. Worked out great for us.
Took just a few seconds and a couple signatures at a lawyers office to have it prepared. We were closing on our old house and the lawyer we worked with did it there. But, you may not even need a lawyer to have it done. Seems like it was a pre printed form they already had and we signed it and had it notarized

 

[Kermit]

My parents have done that a few times when my dad got a new job and moved out-of-state while my mom sold the house. They've always been very glad they did it, and everything worked out fine.

If you have a lawyer you normally do business with, s/he should be able to handle it. Otherwise, your realtor (or someone at the firm) should be able to recommend a lawyer. I'd guess that whoever they recommend for doing the closing would be able to set it up, but that's just a guess.

 

[DVC-Don]

I had one from my wife when we bought our first house. She was going to be away at training for a week the same week we were supposed to close. Called our attorney and she made one up that was good for that purpose and date. Sure did give me writers cramp signing for the 2 of us though.

 

[doxdogy]

I think that it would be a good idea to have one. Most definitely have an attorney draw one up for you. Make sure to ask the bank and realtor regarding the certification needs. When I worked for a stock transfer agent 10 years ago. The SEC had strict guidelines regarding the certification of the POA. The guidelines may have changed these past 10 years. I remember that it had to be certified within 5 business days as being in full force and effect and that the maker was still living.

 

[Serena]

Why not? It'll help.

 

[Goofyposter]

Absolutely!!!.....why not???

If all parties are in agreement....this is one legal 'device' that can actully make life easier for folks!

 

[PamOKW]

You might want to take this opportunity to do the whole estate planning thing. If you don't have a will, take care of that. Get a durable power of attorney and also get a medical power of attorney that allows you to make medical decisions for your husband if he's incapacitated (and vice versa). You could also draw up a living will at this time. Each one of you should have these documents.