Power of Attorney

As you get ready for retirement, you may look forward to an easier, relaxed lifestyle – on your terms. Consider preparing a Power of Attorney to help your family and loved ones make your wishes a reality.

A Power of Attorney is a legal document that gives someone you designate the power to act for you if you become incapacitated, due to an illness or disability. It may help give you peace of mind knowing that your assets are being accounted for. Realize that you must be of sound mind at the time the document is signed, so prepare it well before retirement.

Here are a few tips in setting up a Power of Attorney:

  • Designate a trusted family member, friend or professional whom you trust implicitly to act in your best interest
  • Decide upon the scope of the power you wish to give
  • Have the form drafted by your attorney
  • Sign the form in front of a notary public
  • Give the original form to your designee so they can act in your place if the time comes

Your plan must receive and approve the Power of Attorney prior to implementation. However, each state differs in the how the Power of Attorney is set up, so consult with your legal advisor.

This information is not intended as not legal or tax advice; it is for educational purposes only.

Get the help you need

Talk with one of our Retirement Specialists to learn more about how to help protect your retirement investments. Keep in mind that neither Nationwide nor its representatives may offer investment, tax or legal advice. You should consult your own counsel before making decisions about plan participation.

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