A recent caller was incredibly frustrated—her husband had just suffered a massive stroke, and for reasons I don’t fully know, he was the only person named on all their bank accounts. He was also the wage earner. She had just received a returned check from the Electric Company (she had signed his name, and someone noticed).
It seems so logical to think that as a spouse, you can just sign for each other, especially after many years of marriage, as this couple had. Unfortunately, a spouse can only sign for their partner if they have legal authorization. This requires being authorized as a Co-Trustee and/or as an Agent under a Power of Attorney. It is not automatic.
I had to give her an answer I wish I never had to give: “I can help you file for Conservatorship.” I only wish she had called me earlier, so I could have explained what legal documents they needed to ensure she could pay their bills if he had a stroke. Please call me—I’ll make sure you can pay your bills if your spouse has a stroke.
