Your financial agent

This person (or persons, as you should have backups) is your money manager. When thinking about whom you might select, imagine you are in the hospital for three months. Who would open your mail, pay your mortgage and light bill on time, keep good records, and never mix your money with their own? Who would you trust with your checkbook today?

This does not have to be the same person as your medical agent. The best advocate in a hospital is not always the most organized with paperwork.

When it starts

You can make the power of attorney work right away, or only if a doctor says you can no longer manage your affairs. Starting right away is simpler, because banks don’t have to wait for a doctor’s letter. Waiting keeps control in your hands until it’s needed, but can cause delays in a crisis.

What your agent can do

In Louisiana, an agent can only do certain serious things, like selling your house or giving away your property, if the document says so in plain words. Tell us which powers you want to include.

Gifts

Some people want their agent to keep giving the way they always have, such as birthday checks to grandchildren, tithing to their church, or helping a family member with rent. Others want to make sure no one can give their money away. Gifting powers also matter if you might someday need Medicaid to pay for nursing home care.

Your home and money

This helps your agent know what they’d be looking after. Short answers are fine, and please do not include account numbers.