Attorney Jason Neufeld answers a very commonly asked question. Do I need a POA (Power of attorney) if I’m married? - Visit our website to learn more about POA in Florida👇
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Transcript:
We get the question, I don't need a power of attorney because I'm married, right? So my spouse can just kind of do whatever needs to be done. That is absolutely incorrect. Just because you're married does not mean you have the automatic right to access and to sign your spouse's name and access their assets and do whatever maneuvering might need to be done for some unforeseen reason. If you're married, you absolutely still need a power of attorney and really the full complement of estate planning documents.
But we're focused on the power of attorney. Let's say your spouse's unconscious. Well, if you need to sell real estate for whatever reason or do other maneuvering with their assets; just because you're married, doesn't mean it gives you the right to do that.
You might be able to access the bank account if it's a jointly held bank account. But what about 401 K's? What about investment accounts that might only be in their name alone? You would not be able to access that if they are unconscious and just because you're married to them, without a properly vetted, durable power of attorney.
With my disabled and elderly couples... We deal with this a lot, where sometimes they go from having capacity to losing capacity because of a stroke or a heart attack or dementia or whatever other disability that they might have. They need to access and protect their assets to apply for Medicaid, to pay for homecare, ALF care, or nursing home care.
I occasionally have to be the bearer of bad news. Just because you're married to this person doesn't mean you get to sign their name on those important documents. So for all these reasons, and more, just because you're married, if you are married, you absolutely need to have a power of attorney. Just because you're married in the eyes of the state and your religion doesn't give you the right to access their stuff.
So hope this puts that myth to rest. If you have any other questions about estate planning, Medicaid planning, or the need for a new power of attorney anywhere in the state of Florida, please call the office and set up a consultation today. Thank you
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