PSP FINANCIAL PLANNING

Just had the paperwork noterised to assure access to my wife's retirement accounts. I'm doing this now while she is still mentally very stable so that if and when I need her retirement funds to pay for her care, a hoyer lift or medical equipment, I'll be able to do so.

IMPORTANT: Here in the USA two major investment/IRA funds will NOT accept a "normal" Power of Attorney document your lawyer may have drawn up. Both Vanguard and Fidelity investment companies REQUIRE their own form be used to aquire access to the accounts. So it's not just a simple matter of sending them your POA document to assure access, you need their forms completed. Also, in the process, I found that the requirements for POA documents had changed and ours were out of date. I suggest you check with your attorney to make sure your POAs are up to date with current regulations. Even if your attorney says "Investors will accept your existing POA" don't rely on that. Check with the investment/IRA company to see what THEY require. Just trying to be helpful. As a former computer analyst you can see that I'm on top of every aspect and eventuallity that might bounce our way as we travel the PSP road. lol

Jimbo

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  • Thanks Jimbo! my mind seems so clogged with everything, I neglect to look at our doccuments and ask questions about these things! I have got to get my ducks in a row!

    Joan

  • In UK Lasting Power of Attorney is still good but only whilst the person is alive.

    After that the will has to be well organised, dated and witnessed and people named as executors and trustess and you won't have any troubles. My parents got theirs all done and we just found they had not been dated properly and the solicitor who wrote them went bust! I have tracked him down though and he is most contrite and willing to help but it still means delays which my parents had tried to avoid for us.

  • HI JIM]#GOOOD THAT YOU AND MARY HAVE GOT HER INVESTMENTWST SORTED

    IN THE UK A LPA IS CRUCIAL AND EDXPENSIVE TO GET IN PLACE 9

    \9which i hav edone) and plsu]an A4 SHEE TOT GO WIHT THAT ON WHA TI DO AND DO NOTG WANT OT HAPPEN WHENI CAN NO LONGE RSAY RO DO ANYTHING FOR MYSELF

    IT SI NOT EASY FOR TH EWIF E/ HUSBAND OR PARTNER TO DEAL WITH ALL FO HTIS BUT I HAVE ALWAYS BEEN UPFRONT ABOUT MUYH PROBELSM

    I JUST HAV ENOT PT ANY OF MY FUNERAL REQUIREMENTSIN WRITING AS YET AND MUST DO HTSI TO MAKEIT EASY FOR THE PEOPEL WHO R LEFT

    I WENT TO A FUNERAL YESTERDAY - BEST I HAVE BEEN TO AS THE GUY HAD SET EVERYTHIGN DOWN AND IT WAS EXACLTY AS HE WOUDLL HAVE WISHED - A GREAT TURNOUT FOR HIM TOO

    DESPITE IT BEING AN IMMEDIATE SHOCK DEATH - MASSSIVE HEART ATTACK ON THE GOLF COURSE /AGED 61/ NO HISIORY OF HEART PROBLEMS ..

    GOOD FOR FHIM BUT DREADFUL FOR ALL FO US LEFT BEHIND!!

    LOL JILL

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