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Dear Money Lady: I would like to know your take on getting a power of attorney on health and property. My wife and I are in our late 60s. At present, we only have a will just in case something happened to us. Your response is very much appreciated. Thanks, Jim
Personally, I believe everyone should also have POAs to accompany their will as well as a detailed estate plan. These legal documents allow you to give explicit instructions to your designated POA to ensure they follow your wishes and directions for your investments, property, and, of course, your own medical care should you become mentally incapable.
ASK THE MONEY LADY: No secret solution to getting more money except finding ways to increase your incomeStill, there are many that have not had any discussions at all with their parents; instead they refuse to bring up the subject, expecting nothing to happen, and if it does, thinking it will all be OK.
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