Do you have power of attorney for your spouse?

[Anonymous]

Just wondering how many people have power of attorney for their spouse. It was recommended to us in case one of us gets sick or is in an accident in hospital for a long time then the other person can handle financial things, get access to all the money, pay bills, etc.

Is this common?

[Anonymous]

Yes.

[Anonymous]

I had the POA for my mom as she declined, but I did not invoke it until it was required. There are also different POAs such as financial or health. You can invoke the health one and not the financial one.

[Anonymous]

Anonymous wrote:I had the POA for my mom as she declined, but I did not invoke it until it was required. There are also different POAs such as financial or health. You can invoke the health one and not the financial one.

What does the health one mean? Aren’t you automatically allowed to make medical decisions if spouse is incapacitated, even without the POA?

[Anonymous]

You are probably right about not needing a heath POA for a spouse. My experience is based on a parent child relationship which is legally different.

[Anonymous]

You don't need POA for a spouse. That's the whole point of getting legally married and why legalizing gay marriage was so important.

[Anonymous]

I have durable power of attorney for my spouse as he is in poor health. When setting it up our lawyer said not to do the kind that requires a certain circumstance to initiate the POA because banks and such are less likely to accept that kind. They don’t want to get involved in figuring out if the circumstance has been triggered.

[Anonymous]

Anonymous wrote:You don't need POA for a spouse. That's the whole point of getting legally married and why legalizing gay marriage was so important.

It seems like you don’t need POA for medical decisions. But imagine that the spouse (especially breadwinner who usually pays bills) is in hospital for several months and prognosis is uncertain. Should the other spouse get access to bank accounts etc to pay bills, especially if kids are involved? We would need POA for this, right?

[Anonymous]

Anonymous wrote:I have durable power of attorney for my spouse as he is in poor health. When setting it up our lawyer said not to do the kind that requires a certain circumstance to initiate the POA because banks and such are less likely to accept that kind. They don’t want to get involved in figuring out if the circumstance has been triggered.

That’s interesting to know, thanks.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You don't need POA for a spouse. That's the whole point of getting legally married and why legalizing gay marriage was so important.

It seems like you don’t need POA for medical decisions. But imagine that the spouse (especially breadwinner who usually pays bills) is in hospital for several months and prognosis is uncertain. Should the other spouse get access to bank accounts etc to pay bills, especially if kids are involved? We would need POA for this, right?

Omg. You seriously need to educate yourself. When you get married all money is jointly held. There's nothing to "get access" to. If your spouse refuses to share the logins that's another issue, but that money is half yours with or without a POA.

[Anonymous]

No harm in doing a durable POA and medical proxy. You should each be named beneficiaries on all accounts (bank, retirement, investments). You can do it online, print for notary, sign. It’s easy. If kids, get things in order.

[Anonymous]

Anonymous wrote:No harm in doing a durable POA and medical proxy. You should each be named beneficiaries on all accounts (bank, retirement, investments). You can do it online, print for notary, sign. It’s easy. If kids, get things in order.

Yes we’re already beneficiaries. The question is what happens if the spouse doesn’t actually die but is just hospitalized for some time. Without a death certificate we couldn’t get access to all funds.

[Anonymous]

Yes we have POA for each other.

[Anonymous]

Anonymous wrote:

Anonymous wrote:No harm in doing a durable POA and medical proxy. You should each be named beneficiaries on all accounts (bank, retirement, investments). You can do it online, print for notary, sign. It’s easy. If kids, get things in order.

Yes we’re already beneficiaries. The question is what happens if the spouse doesn’t actually die but is just hospitalized for some time. Without a death certificate we couldn’t get access to all funds.

This is true. It can be a PITA.