Step 1: Legal Planning
Give a "Trusted" Individual a Financial Power of Attorney
- Step 1a: Financial Power of Attorney: Learn the process of giving another person authority to make financial decisions
for a person with memory loss through a legal document known as a financial power
of attorney. Information about the Montana Uniform Power of Attorney Act for finances
is provided in the MontGuide. Caregivers should also have a financial power of attorney.
What if you should become incapacitated and could not make financial decisions?
- Step 1b: Montana Statutory Power of Attorney Form (Financial, Not Health): Familiarize yourself with the Montana financial Statutory Power of Attorney form. A loved one starting to have memory loss could authorize another person (an agent) to make decisions for his/her property. The agent will be able to make decisions about the property (including money) when a loved one is not able to act for him/herself. A financial power of attorney is vital for the caregiver as well.