HONOLULU (HI Now) - If someone you know has recently been diagnosed with Alzheimer’s or a related dementia, they may want to consider making a General Power of Attorney as soon as possible.
A diagnosis by itself does not necessarily mean that the person is unable to execute a legal document. They may have windows of capacity where they are able to understand the nature of the document and be able to fill it out and sign it.
A General Power of Attorney is a powerful legal tool, allowing a person you appoint, called an “Agent”, to step into your shoes and legally act, speak, and sign your name for you, by presenting a copy of your document.
The Agent you name in your General Power of Attorney will have broad powers to help you with things such as buying or selling real estate, paying your bills, dealing with your personal belongings, your stocks and bonds, your bank accounts, and your financial accounts. Your Agent could hire a lawyer for you, they can deal with your utilities, your taxes, and your retirement plans. The person you appoint could sign your car title, they could cancel your automobile insurance, or terminate your cell phone contract or Costco membership. Your Agent could even apply for government benefits on your behalf.
You do not need anything to “turn the document on.” The document is effective immediately when you sign it infront of a Notary Public, and it is automatically void when you pass away. No one can legally act or speak for you if you are not alive.
In a time of crisis, if you ever are suddenly unable to handle your own financial affairs, the document allows the person you appoint to immediately assist you, avoiding the need to go to court.
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