	How to Prepare for the Death of a Loved One
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Being a Power of Attorney is Not Easy

Nearly every decision you make as the Power of Attorney will come under question and scrutiny even if you are the most competent person to handle it. Be prepared to be looked upon as a slave by family who somehow think that it is your responsibility to perform every task simply because you are POA.

If you do accept this role, be prepared to keep accurate records of every transaction along with a daily ledger of any activity and the number of hours involved. Accurate recordkeeping is very time consuming but you will thank yourself down the road.

In a little over 4 years as a POA I have logged more than 16 hours per week on the administrative functions associated with the duties of Power of Attorney. These hours include phone calls to Insurance companies, Medicare, Social Security, recordkeeping, Lawyers, writing checks, Updating Records, Making Copies, Organizing Files Reviewing Correspondence, faxing, trips to the post office, just to name a few.

The burnout rate amongst caregivers is very high, especially if you are the Power of Attorney as well. My advice to family members that don't want to be bothered with assuming the role of Power of Attorney: Keep you opinions to yourself or step up to the plate and do it yourself. If anyone is looking to become a Power of Attorney I would be more than happy to interview you for the job.

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Caregiver Articles Life After Caregiving How to Keep Caregiving From Ruining Family Relationships Caregiver Burnout Caregiver Stories Tags: 6 Steps to Creating a Will Avoiding Probate with a POD Account Being a Power of Attorney is Not Easy Benefits of Pre-Planned Funeral Can You Inherit Credit Card Debt? Checklist: What To Do When Someone Dies Common Types Of Trusts Depression Rates For Caregivers Difference between Medicare and Medicaid Does An Executor Get Paid Don't Die without a Will Durable Power of Attorney for Health Care Estate Planning for Beginners Financial Toll of Being a Caregiver General Power of Attorney Form How Many People Die Without a Will? How Often Should You Update Your Will How to Prepare for the Death of a Loved One If You Not Going to Help - Keep Quite! Last Will and Testament Form Make Your First Will Must Read for Siblings of Caregivers Sample Last Will and Testament Form The Probate Process Things Your Executor Will Need to Know What Are Video Wills What Does an Executor Do? What is a Holographic Will? When is Probate Necessary? Worst Excuses For Not Having A Will Financial Toll of Being a Caregiver Caregivers, on average, spend more than $5,500 per year in out-of-pocket expenses. Out-of-pocket expenses for Long-distance caregivers can exceed more than $8,700 per year for incidentals such as transportation, food and supplies. ">Continued Avoiding Probate with a Payable on Death Account Among the ways to avoid the costs and inconveniences associated with probate include setting up a “payable on death” (POD) bank account. These are also known as “Totten Trusts” A Totten trust (also referred to as a "Payable on Death" account) is a form of trust in the United States in which one party (the settlor of the trust) places money in a bank account or security with instructions that upon the settlor's death, whatever is in that account will pass to a named beneficiary. For example, a Totten trust arises when a bank account is titled in the form "[depositor], in trust for [beneficiary]".can be opened at most banks, brokerage houses, credit unions, and other financial institutions. What Does an Executor Do? If you have been chosen to be the executor of someone's estate, you have been given a great compliment and an immense responsibility. You have been entrusted with the precious duty of seeing to it that what remains after someone passes is distributed exactly as that person wished. Testamentary Trust, and Totten Trust. ">Continued General Power of Attorney Form Last Will and Testament Form Estate Planning for Beginners: Creating a Will Most folks already know that the main purpose of a will is usually to dispose of your assets and personal effects. In its most basic form, a will should include these important parts: ">Continued What is a Holographic Will? A holographic Will is one that is written by hand, not typed or created on a computer or word processor. These Wills are only valid in a few states. Unwitnessed holographic wills are valid in around 19 out of the 50 states so make sure that holographic Wills are allowed in yours before you consider using one. What Happens to Your Debts When You Die? Several factors determine what happens to your credit card debt after your passing. The main factors to consider are the state in which you live and person who applied for the account. In most cases credit card debt is paid for through the estate of the decedent, meaning that if you have credit card debt at the time of your death, assets held in your estate will be used to pay off the debt. If there is not enough money in the estate to cover credit card bills, the credit card company will end up taking the hit and writing off the unpaid debt. ">Continued

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