Do I need Power of Attorney and why?
I am often asked this question… People think that if they have all of the accounts and property in Joint ownership, they have all of their basics covered… Unfortunately – NOT.
Think about it- in order for you to sell or refinance the house that you own – both of you need to sign the documents. You cannot sign on each other’s behalf, simply because you are married. You cannot file each other’s taxes, renew each other’s car insurance of file for each other’s pension… The only way it is possible to do if you appointed each other as “Attorney”. In order to prepare Power of Attorney document, you need to see a Notary. I prepare Powers of Attorney at the office and Appointment will only take one hour. Please do not leave preparation of this document until it is too late. Nobody can prepare this document for you. You have to have mental capacity to be able to demonstrate that you understand what you are doing… Hope to see you soon.