Documents You May Need As You AgeLearn Why A Reduction In Your Cognitive Abilities Should Be A Cause For Concern

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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 daunting.

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 "real" potential.

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 consider getting:

  • 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 so)

    You could also complete a HIPAA form which would allow medical providers to inform a family member about your health status and treatment.

If you have a will (you should have oneif 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.

The 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.

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About This Article:


The above article was written by Thomas (TJ) UnderwoodThomas (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 economy.

He is the creator of 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 results.

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 and possibly earn revenue by logging on to

He is also an IRS registered tax planning professional with over 30 years of tax experience and can be reached at:



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