QUESTION
have a question about the proper power of attorney to use to address pension benefits for a surviving spouse
Asked on Jun 09th, 2021 on Estate Planning - Wisconsin
More details to this question:
My father-in-law passed away December 2020. His wife (surviving spouse) is to receive his pension benefit. She is, however, exhibiting various symptoms of dementia. We would like to be able to interact with the company managing that pension benefit, and they recommended we obtain a power of attorney to be able to speak with them on the phone on her behalf. So - we're looking for the most appropriate POA option that would cover this situation.
1 ANSWER
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A person can only sign a Financial Power of Attorney if they are lucid, ie. can understand what they are signing and why. If the person is lucid, have her sign a POA as soon as possible as once her condition has deteriorated, she will be unable to do so. At that time, the only option will be to file for a conservatorship over her financial affairs. To be on the safe side, if there are questions about a person's mental state, you can have their doctor examine them and provide a short letter that on a certain date the patient was presented with a POA, understood the ramifications of signing it and did in fact want to sign it. I would err on the side of caution to avoid any appearance of influence in this regard.
Answered on Jun 14th, 2021 at 8:59 AM