World Alzheimer’s Day, September 21, is a day when the Alzheimer’s Association and other organizations around the globe unite our efforts to raise awareness about the disease and its impact on our families, communities and nations.
Recent research indicates 33 million people worldwide are dealing with dementia, incluing 4.4 million Americans. Alzheimer’s continues to be a disease without a cure.
With 77 million American baby boomers reaching the age of greatest risk, the crisis of dementia and Alzheimer’s cannot be ignored. The disease imposes enormous burden on individuals, families, health care infrastructure and the worldwide economy.
It makes planning for incapacity as important as planning for death.
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.