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Originally Posted by jodi
Ok, just finished the health care proxy and living will tonight. They are signed, witnessed, and going into the safe (my husband and parents are aware of them - do I need to get a copy to my MD as well?).
Here's my question - I asked my parents (my financial mentors) about getting a power of attorney. I would list my husband as POA. They don't think we need one as everything we own is owned jointly. I wouldn't need a POA to access the checking and savings accts, for example. So would this benefit us at all and should we pursue it? Or should I perhaps think of getting a POA listing one of my parents should anything happen to both DH and myself?
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Can you have more than one power of attorney?
I would still get a POA. I know that you don't own your retirement accounts jointly. An example, one was in coma, needed funds from other's ira, you would need a POA to get this done. Make sure it is a durable POA...one that doesn't expire.