The power of Attorney and your Written Will should be Prepared in Advance soon after your retirement

The power of Attorney and your Written Will should be Prepared in Advance soon after your retirement

You will agree with me that there you will have to leave a will behind which will outline how your properties will be divided among your children and grandchildren in the even that you will no longer be in a position to manage and rule over your wealth. If you are a senior who has attained the age of 65, it is important to prepare a will and a power of attorney. Preparing a will and a power of attorney is very important because of a number of reasons that I will explain in the next paragraphs. Visit the following site for information on a medicare advantage plan for the upcoming year https://www.medicareadvantageplans2019.org

The power of attorney give a persona authority to handle your finances

Old age is a period when things are uncertain. You will agree with me that it is unfortunate that the health of individuals beyond the age of 65 may deteriorate hence forcing them to seek power of attorney that will allow him/she to handle financial issues on behalf of the senior. It is therefore very important to ensure that you a specific type of power of attorney that will ensure that your financial issues such as payment of bills and incomes runs smoothly even in the event that you are hospitalized or is spending time in a senior care facility.

The power of attorney will ensure that your bills are paid on time hence avoiding penalties that may add more stress to your life. It is therefore important to make sure the power of attorney is created immediately after you retire. This is because at the age of 65 and above our mental capacity may not be up to the mark. You will agree with me that at the age of 65 we tend to forget even simple things like brushing our teeth. If that is the case, then there are high chances that we will also forget to authorize payment of bills. To avoid this, we need to create a power of attorney as early as possible.

Create a will and testimony while you are still in your right state of mind

It is obvious that you have a wish to leave you wealth to those that you love. If that is the case, then it is very crucial to create a will so that your wealth division will go as per your consent. Preparing a will early enough is very crucial also as it is a basis of avoiding upheavals that comes with wealth sharing.