My husband has dementia and started some signs 10 years ago. He couldn't remember he signed up for a life insurance for me as a beneficiary ...

Question

My husband has dementia and started some signs 10 years ago. He couldn't remember he signed up for a life insurance for me as a beneficiary 30 years ago. I called the life insurance to notify about his existing condition. The rep told me to acquire life insurance power of attorney, notarized. Where can I secure this form? He also told I don't really need a lawyer. Just secure a form. I need help. Susan Huber

Answer

No, you need to open a guardianship probate

Answer

Powers of Attorney allow others to make decisions after a person has lost the ability to do so. However, if that person presently lacks the capacity to make decisions, that person cannot sign a new Power of Attorney. (Powers of Attorney are often prepared when a person goes to a lawyer for a Will.)

Also, Powers of Attorney generally cannot be used to change beneficiary designations.

If a financial institution will not allow you to make a decision for your spouse, you must explore the extent that it necessary for you to do anything with the insurance policy at this point. Feel free to call me if you'd like to discuss this further. I will not charge for a phone call about this.