Your Final Wishes: WSJ Article July 2009
It’s been impossible to avoid the spectacle surrounding Michael Jackson’s untimely death and his celebrity-studded memorial service. But if there is anything positive about a high-profile passing, at least it brings up a subject most of us prefer not to…
Category Archives: Elder Law
Long Term Health Care–“..Number 1 issue…over the next decade.””
David Pitt of the Associated Press submitted an eye opening article for the San Jose Mercury News today–4/2/09. It was a very clear warning about how the long term care costs will negatively impact the lives of most every retired American over the next decade. It’s great and easy reading. You’ll find the article at: http://www.mercurynews.com/ci_12051617?IADID=Search-www.mercurynews.com-www.mercurynews.com
What is a Medallion Signature on a Power of Attorney?
Brokerage accounts have special rules for your attorney-in-fact. If your attorney-in-fact needs to buy or sell stocks held in physical form or held in a brokerage account, your attorney-in-fact will need to add a medallion signature “guarantee” to your power of attorney form.
The Medallion Signature is a stamp provided by a financial institution guaranteeing to a transfer agent that the signature of your attorney-in-fact signature is actually his or her signature. Requests to buy or sell stocks are reviewed by someone referred to as a Transfer Agent. The Transfer Agent cannot authorize transactions requested by your attorney-in-fact without the Medallion Signature guarantee evident on the power of attorney form.
Your attorney-in-fact may need to locate a bank participating in the Medallion Signature program. The bank should be one the attorney-in-fact does business with that is willing to guarantee their signature. The bank will place the medallion stamp on the power of attorney form.