You’re going to have to put your trust in someone to help you if you’re incapacitated. Ideally, you have a longtime financial adviser with a clean disciplinary record who’s bound by a fiduciary oath to work in your best interest. In that case, sign a standing letter of authorization (SLOA) to allow the adviser to transfer funds and pay bills for you. You can search a financial adviser’s history using FINRA’s BrokerCheck tool.
“It’s a limited standing instruction for us to cut checks on our client’s behalf,” said Nick Kochanski, managing director at Crescent Grove Advisors in Lake Forest, Ill. “It helps with bills with known deadlines such as quarterly tax payments, home mortgage payments and real estate tax payments.”
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