Power of Attorney: What's Your Plan?

[FunInTheSunParticipant 8283]

I live alone, and sometimes I wonder what might happen to me if I become mentally/physically disabled. My siblings would most likely take care of me, but I’m concerned about how they’d deal with my bank account and personal belongings. For example: I could wake up in a hospital bed, after being unconscious for a month, and find out that I’m unemployed, most of what I owned has been thrown away, and I have medical bills to pay—-and delinquent loan payments to boot. That would be a major shock!

Ideally, I’d like to be in a situation where I have some insurance to cover my losses if unexpected events should occur in my life that could jeopardize my overall well-being. I’d love to have some sort of a trust fund set up with an organization, maybe a law firm, that would help my family take care of me and get my financial affairs in order so I don’t lose the material possessions I’ve worked for and can be taken care of if I have medical issues or if I become senile in my later years.

Do any of you have a friend or family member that you trust to take care of you if you become incapacitated? (If this topic has already been discussed: my apologies.)

"I saw that there comes a point, in the defeat of any man of virtue, when his own consent is needed for evil to win-and that no manner of injury done to him by others can succeed if he chooses to withhold his consent. I saw that I could put an end to your outrages by pronouncing a single word in my mind. I pronounced it. The word was ‘No.’" (Atlas Shrugged)

[Jan SobieskiParticipant 28791]

Great topic. I’m guessing a wife is a bad choice. Just saying.

Love is just alimony waiting to happen. Visit mgtow.com.

[hellraiderParticipant 2837]

Im thinking a good male friend would be a good option.
I guess parents are out of the picture?

[MattNYCParticipant 2329]

Great question!!

I’d consider two of my oldest friends – one from elementary school, the other from college. Both good guys that i’d trust with my life.

Having said that, they both have wives/families, so i don’t know if the wives would complicate things, or if making medical decisions like that’d be too much of a burden.

I like the idea of having a lawfirm do that service professionally. I assume you’d have to put a certain amount in an escrow account for them to draw from if/when it comes to that. But i’ve never researched that option before.

[AnthonyNParticipant 112]

Before I’m too old to take care of myself, I plan on opening up a reitrement account at a trusted bank. I also plan on looking into a law firm deal like you are. That way, if I’m ever too sick/senile/whatever to take care of myself, I’ll be sent to an “old folks” home or have a nurse come take care of me at my place.

[Jan SobieskiParticipant 28791]

Seriously, If I have a choice (not an unexpected accident, etc.) I will go my own way, on my terms, like a man.

Love is just alimony waiting to happen. Visit mgtow.com.

[HitmanParticipant]

i’m going to keep kicking ass non-stop .
then i will die .
cremation would be nice.
while i snuggle my ex wife !

[Anonymous 11]

I have a one niece who is proven honorable ten fold.

She’s served in our military in both Iraq and Afghanistan as an officer in the US Army. She can shoot and skin a deer too. Her husband is a lucky SOB and a great special ops guy.

She’s the only one I would trust with my affairs should I not be able to handle them. She and I tag team to handle any family discord incidents. Too bad there aren’t more women like her. She can cook too.

That sounds so MGTOW. Does it not? I’m planning on making her my executor.

Uncle C-Pig looks out for her and has advanced her career plans using his extensive business network.

I plan on getting eaten by a Great White at age 95.

[Prefer Peace to PieceParticipant 10809]

Well for starters, you want at least a will and a medical directive. Any attorney can help with this. If you are lucky enough to acquire significant assets, additional tools will be needed.

As you get older, strongly consider long term care insurance. Trust me, long term nursing home care is very expensive and bankrupts many families. You don’t want to be in a Medicaid facility unless no other options are available.

As you get older, consider pre-paying funeral expenses.

I plan to have a group of attorneys oversee my affairs if I become incapacitated. Less hassle.
Your friends, although well-intentioned, may not be willing or able to be a guarantor, or custodian, or guardian. As the laws become more complex you are better off having a legal team in charge.

[FunInTheSunParticipant 8283]

hellraider wrote:

I guess parents are out of the picture?

When you get old, you may be in a situation where you’re not able to take care of yourself. A trustworthy niece/nephew could be an option for a power of attorney. Perhaps you could put that relative in your will or on your life insurance policy as a reward for taking care of you & your personal affairs.

"I saw that there comes a point, in the defeat of any man of virtue, when his own consent is needed for evil to win-and that no manner of injury done to him by others can succeed if he chooses to withhold his consent. I saw that I could put an end to your outrages by pronouncing a single word in my mind. I pronounced it. The word was ‘No.’" (Atlas Shrugged)

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