Documents You May Need As You Age—Learn Why A Reduction In Your Cognitive Abilities Should Be A Cause For Concern
As You Reach Your Elderly Years You May Need These Documents
If you are over age 75, make sure that you
are mentally in position to handle your finances as the normal wear and tear of
aging can make reviewing your bank statement and financial portfolios more
Cognitive impairment should be a real concern as
you age and you and your family should have a plan in place to deal with this
You should also be aware of scammers and those
who try to defraud you out of your retirement savings by offering services or
financial products that do not have your best interest at heart.
As you age and your mental faculties deteriorate
- a durable power of attorney (springing-takes affect only when
you are deemed unable to make a decision or)
- a health-care proxy (authorizes
another family member to make medical decisions on your behalf if you can't do
You could also complete a HIPAA form which would
allow medical providers to inform a family member about your health status and
If you have a will (you should have one—if not you should address that
need immediately) and revocable trust you could give a co-trustee (possibly a
family member) power to use the money according to the rules of the trust.
will would inform your heir's of what to do with assets outside of the trust
after your transition.
Keep in mind that Estate Planning can get complex so be sure to obtain competent legal advice in addition to weighing options that you feel might work for you and/or your family.
Return to Top
Return From Documents You May Need to Estate Planning Page
Return From Documents You May Need to Realty 1 Strategic Advisors Home Page
Our Latest release © 2023, "The 3 Step Structured Approach" now available on amazon.com
NEW BOOK ©2021, 2023—1-2-3 Credit & Me—Now Available
Learn what others are saying about our latest blog (Summer 2014)
Purchase "The Wealth Increaser"
Learn more about "The Wealth Increaser"
Learn about what is inside of "The Wealth Increaser"...
The above article was written by Thomas (TJ) Underwood. Thomas (TJ) Underwood is a former fee-only financial planner, a former top producing loan processor and is currently a licensed real estate broker in the state of Georgia.
He is the writer behind The Real Estate & Finance 360 Degrees Series of Books that include The Wealth
Increaser, Home Buyer 411 The Smart Guide to Buying Your Home, Home Seller
411 The Smart Guide to Selling Your Home, and Managing &
Improving Your Credit & Finances for this MILLENNIUM.
In addition he is also the writer who created The 3 Step Structured Approach to Managing Your Finances, and CREDIT &
FINANCE IMPROVEMENT MADE EASY—NEW GUIDE that you
can download right now "(at MIMIMAL cost $3.95)" to learn more about his
writing style and how you can achieve "more" success in the current
He is the creator of TheWealthIncreaser.com where he regularly blogs about helping
consumers improve their credit, finance and real estate pursuits in an
intelligent, consistent and proactive manner.
He’s always looking for
ways to make intelligent
finance improvement happen for those who “sincerely desire”
success in their future. He was the first financial planner to coin the phrase "financially alert mind"
and he consistently writes in a style that is designed to provide
consumers the ability to take control of their lives and achieve great
You can contact
him from a number of sources but the most direct way is to contact
him through the contact us block that can be found at the bottom of this page.
You can also get highly relevant tips on "living your life more abundantly" and link to TheWealthIncreaser.com and possibly earn revenue by logging on to TheWealthIncreaser.com.
He is also an IRS registered tax planning professional with over 30 years of tax experience and can be reached at:
ATLANTA TAX PREPARATION SERVICE
Atlanta South Location:
Strategic Advisors, LLC
City, GA 30269
Atlanta Central Location:
Realty 1 Strategic Advisors, LLC
2940 West Stubbs Road
Atlanta, GA 30349