Many couples believe that all financial matters involving their spouse can be easily handled in the event of disability or the spouse's unavailability because they hold their bank accounts, homes and automobiles in joint names.

This is not always true.   Although a spouse can write checks and make withdrawals from a joint account bank account, you cannot effectively sign your spouse's name to other documents without a power of attorney.   

Without power of attorney, you cannot:

• Sign your spouse's name to a real estate contract
• Sign your spouse's name to a Deed
• Sign your spouse's name on a paycheck or any other check
• Sign your spouse's name to a car title
• Sign your spouse's name to any contract or legal agreement

Consider this, without Power of attorney, if your spouse were to become incapacitated or disabled to the extent that they cannot understand or sign documents (or perhaps unconscious) you could not refinance your jointly owned home to obtain a better interest rate, or sell your jointly owned home or other assets that might be necesssary to provide for medical expenses or to purchase another home.

A Power of Attorney is one of the most basic, and low cost, documents to provide for you and your spouse.  Every couple should have Powers of Attorney for each other.