No need for power of attorney

DEAR HARRY: My wife and I are in our late 60s. So far, we are in relatively good heath and are still alert. We are both still gainfully employed, and we hope to retire when I reach 72. We have been discussing a lot of retirement and death issues, and we need a little help. We have taken care of our wills and made sure we each know all of our financial assets. We even prepared a letter of instructions for our children to use after we're gone. Our current need is a power of attorney for our bank account. Our bank has a plan for our account that holds part of the money in a checking account with the rest in a money-market account with an automatic transfer if the checking portion gets below $7,500. What kind of power of attorney do we need to give our son access to the account "just in case"? Will this give him the power to do anything else with our assets? Please help. Things can happen suddenly.

WHAT HARRY SAYS: You're a great model for other readers in a similar situation. Too many people refuse to face reality. Powers of attorney can give authority to do almost everything you can do yourself. They can also be very restrictive. If the only power you wish to give your son is the power to have access to your bank account, your best and easiest bet is to use your bank's form. They all have them. He will then be able to sign those checks and be accountable for his actions to other people who are potential heirs (other children, etc.). If you choose to grant other powers, I suggest you see a lawyer to protect your interests.

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