![]() ![]() The representative will need to keep us updated if their address changes. Be sure when you file that you intend to have this action taken. The address listed for your named representative on the financial p ower of a ttorney becomes the address of record for all mailings.However, if conservator or guardianship papers are also filed, we could only talk to your representative. If you file a f inancial p ower of a ttorney, we could talk to either you or your representative. Without this form, regardless of your family relationship, we cannot release any financial or health information. Your representative can also conduct business related to medical ORS will be able to discuss your account with your named representative, just as if it were you on the phone. Īfter filing the f inancial p ower of a ttorney, your representative will be allowed to conduct business with ORS related to pension payments, pension tax withholdings, and tax documents (like the Form 1099-R ). ![]() Copies of this document can be filed with any organization with which you conduct financial business, including O R S. The f inancial p ower of a ttorney is a legal document authorizing someone to act on your behalf to conduct financial business. We've provided information and resources that will help you with this planning.įinancial Power of Attorney for Your Retirement Business with ORS Begin a conversation with your loved ones about these issues. Please remember, you retain control over these decisions right now, while you're healthy. The f inancial p ower of a ttorney, which is needed for your representative to conduct business with the Michigan Office of Retirement Services (ORS) if you become incapacitated, andĪn a dvance d irective, which is not technically needed to conduct business with ORS but may provide guidance to your family members about the kind of health care you receive at the end of your life. This section will describe two things you may want to consider as part of your retirement planning: That's why we recommend planning as early in the cycle as possible, before it becomes necessary to do so. It's even more difficult to think about giving control to a patient advocate should you be hospitalized and unable to make decisions yourself. It can be emotionally difficult to think about a health issue that might keep you from being able to conduct your necessary business. However, we'd like to encourage a deeper kind of planning in retirement, the kind of planning that will not only benefit you financially but will increase your peace of mind. There's nothing wrong with this kind of planning and, in fact, we encourage this kind of planning. Even your own health care can be seen through the financial lens. Mainta i ning a comfortable, secure r etirement is normally seen through a financial lens: Create and follow a b udget to maximize your savings so your money w ill last your lifetime. ![]()
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