Knowing when someone needs a power of attorney and exactly what authority it gives the bearer is important. This guide is about the responsibilities of a power of attorney.
I strongly suggest if you have a parent still living that they make you power of attorney over them, in case something happens to them where they might have to wind up in the nursing home. The state will otherwise take their home and property.
By Wendy from Enid, OK
Does the person who has POA for a parent, have a responsibility to provide financial reports to the other siblings?
By Loretta from IL
September 4, 2010
No, the person designated with power of attorney doesn't have to provide financial reports.
If I have POA on my mom's banking account, do I have the right to transfer her money into my account if I feel she in not being competent with her money? Or is that illegal?
By Jessica E.
June 5, 2011
As her POA you have that right; however, you also need to be able at any moment to provide a paper trail of ANY activity with her money. As POA you have a responsibility to use her funds ONLY for her. You cannot pay your bills, mortgage, utilities, vacations, clothing or other expenses that do not pertain to your mother with her monies. Remember also, your mother can revoke her POA at anytime, unless she has been found incompetent by the Courts, (which to do this you would need to hire an attorney and go through the legal process).
By Barb in MA 1
The person holding a POA for my great-aunt is haphazard in taking care of the financial responsibilities. Recently, the IRS garnished her accounts for back taxes due. There is plenty of money in her accounts. A CPA calculated the amount due, he just failed to pay.
I am considering challenging the POA assignment (great-auntie has documented dementia). In the meantime, can these types of fines be charged against the POA's share after the death of my great-aunt? Should the heirs consider/demand an audit?
My dad is in a nursing home and his attorney in fact died. My dad's brother is now conviced that he can be in charge of my dad's money and get power of attorney. He is 70 years old has been schizophrenic since childhood and has also filled for bankruptcy in the past. If he gets in charge of my dad's money he will steal it. Is there anything I can do to stop him from getting charge of my dad's money? Will the court even consider giving him power of attorney? Can he be appointed without me knowing?
October 13, 2015
If you dad is capable, talk to him about this. Just because he is in a nursing home does not immediately make him incapable of handling his own affairs. If he does in fact need help, then you should consult a lawyer who has some experience with these issues.
Using his power of attorney, thinking he is protecting her assets from Medicare, my brother put my mother's stocks into his own account without my knowledge or hers. I have power of attorney as well. He refused to make it a joint account after she and I found out. He just promises he will give me my share when the time comes. He is using the dividends to pay some of her bills - not his own use. Was this legal? Should I trust him?
We are on good terms, but when it comes to money no one knows.
September 7, 2015
Any time people start moving money around to make themselves, or in this case, your mother, look poor when they are have assets, it can be problematic. If I were you, I would consult an attorney. Remember your Medicaid officials deal with people all the time; there is likely no scam or dodge that they haven't seen, and they are likely on the lookout for anything like this.
My dad has power of attorney of his father. He has had it for four years. When it was given he was it in sound mind. Now my dad's father has Alzheimer's. A family friend is trying to revoke my dads POA. My dad has done nothing wrong. How hard is it to revoke a POA and how do you contest it.
May 5, 2012
Yes, definitely seek advice of a lawyer asap, actually two or three, and make sure they give a free consultation when booking the appointments. You should also have a written list of questions ready to ask.
By Jason K. 1
I was POA of my dad. He passed and I found out a POA is only good when they are alive. My question is before he died I moved money from his account to mine am I allowed to do this? He had no will, no living trust, no house, and no property. I payed all his bills and closed all his accounts as well. Any help would be appreciated.
October 30, 2015
There are so many unanswered questions..
Large or small amount of money?
Why did you do this?
Was there money left after paying all of your father's bills/expenses?
Are there other people involved?
I agree that you need to consult with an attorney to be sure
everything was handled correctly and what do you have to do now.
I read what Mary B. said and I know this happens a lot with families. Sad - but true - even with small things.
But - I have never heard where a POA can give anyone the right to keep someone from a funeral. The legality of a POA ends when the person dies.
Put your mind at ease - consult an attorney.
By tgf1974 1
I was appointed my grandparents' POA 10 years ago. My grandmother passed on 7 years ago. They have no living children. My sister and I are the only grandchildren from their only son who passed on 10 years ago. Granddad has been falling and has broken ribs. Doctors are evaluating him in a rehab facility. He is 89 years old with no terminal illness at this time, but continues to get weaker and not able to live alone. We are hoping the therapy will help so he can go home with home care help.
My grandmother always handled all the finances and my grandfather has never dealt with it. I picked up my grandmother's responsibility of the finances to help granddad when she past on. I have a 23 year old nephew that lives with granddad, but is no help for the care he needs. My nephew guilts granddad into paying his bills and constantly giving him money. I can't balance the accounts because of the extra money my granddad hands over to the nephew all the time.
We know home care is going to be expensive and need all the funds so granddad gets what he needs. I have talked to him about this so many times and he said my grandmother's dying wish was for him to take of and not let anyone run over the nephew. I am mentally exhausted and don't know what else to do. Any suggestions are greatly appreciated.
October 12, 2015
Dying wishes are terrible things to extract. I am sure your grandmother didn't Intend your grandfather to risk his own life and security to care for this nephew. Where is your sister in all of this? But, what you need to do, is put your grandfather on an allowance. This is tough to do, and might help if you enlist the help of someone from the bank your grandfather deals with. I had to do this for my mom, who had a gambling issue and owed thousands of dollars of income taxes. Your grandfather needs to realize that a 23 year old is an adult who should be looking after himself. And you may have to risk alienating this young fellow by kicking him out if that is necessary for your grandfather's health and security.
My husband's mother has dementia, but her doctor says it is not bad enough that she can't make her own decisions. We live in another state and my husband's aunt has been taking care of his mother. She disagrees with the doctor and thinks that mother needs to be in a nursing home. My husband agrees. Does the power of attorney give him the right to put her in the nursing home without her wanting that? They have tried to have Meals on Wheels come and also visiting nurses to help her out, but she is refusing all help. She is 84 and forgets everything. She will have a conversation with you and repeat the same thing 3 times within 5 minutes. She really can't take care of herself and the aunt is not able to continue helping her.
By Lisa M
April 9, 2015
Are you saying your husband already has a POA?
There are several types of POA's so if he has one - then you would have to read it to determine what he can legally do.
A neurologist can make a better determination about the mental issue as well as discuss the present home situation. You generally need a referral from a doctor to be able to place someone in a home as the "home" usually has to know the condition of the patient before they will accept them.
There is a lot of financial information the home will need and if the person has any assets it may be advisable for you to discuss this with an attorney before the actual "move" is decided/completed.
How fast this decision is made should depend on the welfare of the person involved. It sounds like it will be a traumatic move for everyone involved.
My mother made me her durable power of attorney about six months ago. I am also executor of the will and her advance medical directive. My mother has dementia and needs constant care. She has enough money to pay someone to come stay with her for a few months, but then her savings will be gone. My younger brother has been living with her for 14 years and has never paid for anything. He has paid no rent, nothing on utilities. All he has ever done was to cut the grass. He says he can no longer help take care of her. He is gone constantly. As my mother's POA can I have my brother be made to pay rent and help with the bills? He says he has lived there so long that no one can make him leave or pay for anything. My mother is living off of Social Security and a small savings. She really needs the extra money to help pay for her care. Is there anything I can do to get him to help? Or have him evicted so we can rent out his downstairs apartment and help with my mom's care? It won't be long before she will have to be put in a nursing home. The only option will be to sell her home to pay for this. Does my brother have any legal right to stay there living for free?
By Donald H
March 24, 2015
You certainly need legal advice as there are too many variables to be addressed.
You do not mention who the house goes to (will) but a nursing home will take the house no matter who is the "owner".
Your mother appears to need extra care right now and a live-in person may work but may be difficult to find - and keep - if you expect them to take care of the house (and the brother?).
As pointed out by another responder - be sure to check out several nursing homes before making any final decisions as many homes do not accept public (Medicaid) funds and a VERY large number do not accept patients with dementia/Alzheimers. This is usually a special type of facility so just ask what happens to my mother if she needs this type of specialized care.
The nursing home may place a "lien" on the home but may allow your brother to continue living in the home until it is sold to take care of the expenses incurred in your mother's care. However, they will probably not put out any money for maintenance/utilities etc.
All homes of this type are very expensive - usually running (in my area) 100 - 300 (and up) dollars a day plus any special items/medications/doctor visits etc.
At home care is also expensive but your decision should be based on what type of care your mother needs now and in the future.
I have had to make this type of decision and it is very difficult so maybe it would be good if you have someone to discuss this with that can assist you in finding the right solution.
My husband's grandfather made a will and left us his house in his will. His daughter's husband is the POA and they want to sell the house to pay for assisted living even thought he has money without selling the house. What are my husband's rights as far as inheriting the house?
Can we contest them selling the house out from under us?
March 14, 2015
I agree that you should consult a lawyer, but I expect that there is nothing you can do. I take it you are already living in the house. However, obviously your husband's grandfather isn't dead, and so his will has not taken affect. Is your husband's grandfather still able to make some decisions on his own, or is he totally incapacitated by dementia or ill health? Perhaps it is time to sit down with all parties concerned - grandfather, step-father or step-uncle who has the POA, grandson, mom, you, etc. - and see what can be accomplished by discussion.
I just recently received POA for my grandmother who has Alzheimer's. Can I still go on vacation? I've been planning this trip for awhile. I would be gone for a week.
March 10, 2015
I would just like to add this comment:
Why do you feel you were given the POA?
What type of POA do you have?
Does this POA give you full responsibility over your grandmothers health decisions and financial decisions?
What do you feel your responsibilities are?
True - A POA can be just for financial things but most POA's are for health care decisions. POA's are only legal until that person dies so think about all of this and then make your decision.about taking a vacation.
I hope you are able to a take vacation knowing that your grandmother is well cared for in your absence.
Long story short, my BF lives in the United States, but I do not. He was incarcerated, but gave me power of attorney to try and sell his vehicles. The problem is his vehicles are under financing and a lean loan. Should I inform these companies that he is incarcerated? Or just tell them I have POA and need to know how to sell them? My fear is they will try to reposess them because no payments have or can be made on them. Any advice is greatly appreciated.
March 6, 2015
Unfortunately to sell 'Secured' property as you describe, it must be paid off prior to selling it...usually. I would recommend contacting the lean holders to work out a deal of some kind. Also the POA may be invalid if your boyfriend executed it while incarcerated as he has lost his Citizen rights, including entering into contracts, which a POA is. On the bright side, the lean holders do NOT want the property back. It's a money losing pain in the butt deal for them so if you contact them & are honest about the situation, they may allow you to sell the vehicles to satisfy the loans, at least. Hope this helps. Best Wishes.
My mom is 89 and has dementia. Let me say there is a substantial amount of money and posessions at stake. She and my now deceased dad made a living will and trust in 2000. My dad passed away 7 years ago. I have 1 brother and he is a prescription drug addict and an alcoholic. He is addicted to oxycodone and he also gives it to my mom which at her age could kill her and is taking advantage of my mom's mental state. In the living will I am to have Power of Attorney and if something happens to me then he will. A month and a half ago he took my mom to her attorney and had her change the Power of Attorney to him. He then changed all the locks on her house so I can not get in. I have had a key to her house for 30 years. What can I do to get the Power of Attorney changed back to me or to a neutral person. I live 5 mins from my mom. I go see her every day. I check on her. I go to the store for her. I cook for her, take her to her doctor appointments and dentist appointments. He does not even go see her, now that he had the Power of Attorney changed to him, unless she calls him and asks him to come fix something in her house. I have 1 daughter and 2 grandchildren and he will take everything she has unless this is changed. Please help me. Thank you so much!
December 3, 2014
I would like to add: it appears that everything he is doing is legal with a full POA and what you do for your mother or what you have done in the past will not make very much difference, as long as he has a full POA.
My dad passed away in 2010. My mother just passed away in July of this year. We had her propane company come and get her tank. They owed her 178.00 dollars and sent a check in my dad's name. I called them and asked them to put it in my name since I am the executor of her estate and sole heir. They said they couldn't do that, and that if I had power of attorney I should be able to cash the check. Well they are both deceased. Can I make myself POA? Or does that make me POA?
September 1, 2013
As stated by a previous response, a Power of Attorney is good only while a person is alive. Because you're the trustee of the estate, you should be able to sign and cash the check. Sign your dad's name, your name followed by the word, trustee.
My brother, who was incarcerated, asked me to be his POA. He is now out on parole and is still asking me to do things on his behalf. As POA am I a target if anything goes wrong? For example, bad business dealings on his part. I am helping him somewhat financially and do not want to be part of any bad dealings.
September 15, 2015
Personally - I believe it may be time for you to remove yourself from being his POA. A POA is usually (but not always) used when the person cannot do these things for themselves.
Think about it - would you do whatever he is asking you to do if you were doing it for yourself? Because: - that is what you will have to answer to. Ignorance is never a reason/excuse when it comes to legal problems.
Why not help him with whatever you feel comfortable with and leave the rest to him?
I need to shrink a leather skirt. I'm seeing all theses things like put them in a dryer, wear the clothes wet to form to your body, but how do I know if these things are true? Help please.
September 10, 2015
I agree with the previous posters. I think you would ruin it if you attempted to shrink it. Take it to a seamstress and have it made smaller.
By Angela P. 1
My sister went to her attorney and got a POA on our mother and she never discussed with me. The only way I found out was that she let it slip out of her mouth. I was shocked, I was really hurt by this. I know my mom has Alzheimer's, but I asked my mom did she sign any papers and she yes, but she didn't know what she signed. I just don't know why my sister did this. It is only the two of us and I am the oldest. What can I do about this?
August 15, 2015
Very difficult situation there. Are you having reservations that your sister can't be trusted?
Thankfully my parents are alive and well. There are 3 kids and I'm in the middle. My mother was doing their will last year and put me as the executor - once this got to my sister-in-law it caused quite a bit of friction, as her husband, my brother is the oldest... It's unfortunate that family members don't always trust other family members (and might have a good reason not to!) to fulfill their role in those tough decisions we make as our parents age.
My daughter has power of attorney for my husband. He has dementia and she has signed papers for him to go in to VA home. I, his wife, do not want him to go. Can I stop this?
May 31, 2015
We had an issue when my husband was dying of a brain tumor and my daughter threatened to get POA over both of us. I had the social worker at the hospital draw up a POA while he was there for my sake. But when I told them why I was doing it they told me as his wife, I had the final say on things. Check it out, not sure if you gave her permission to do this or not but I would seek advice from an attorney. I know how it is when others want to force you into doing something you don't feel ready for or is right.
My husband is in jail and needs a criminal defense attorney. The property is only in his name and he wants me to try to sell it. He wants to give me POA so I can try to sell it.
How would I go about doing this?
May 26, 2015
You can print off a free Durable Power of Attorney by doing a search on Google. In that way you can cut out the added cost of having a lawyer do the work. You have to fill out some information and have a section notarized at your bank. I did a free POA for my son while he was on active duty in the army.
By Dana R. 1
My mother-in-law got a POA for her brother after he was hit by a car. He gets a disability check every month. When he got out of the hospital, he moved in with my mother-in-law and father-in-law. After 3 months they had to put him in a nursing home, because he was getting violent. Now that he is in a nursing home his insurance pays for his stay, so his disability check will still be coming in each month. My father-in-law strongly belives that they are able to spend his money just because he can't. I told him it doesn't matter if he can't spend it, it doesn't give you the right to spend it either. That my mother-in-law can spend it on things he needs and that's it.
April 25, 2015
You do not say how long he has been in a nursing home. I'm not sure what type of insurance is paying for his "keep" but I agree that it will probably not last forever. I am also surprised that the nursing home did not ask/require a "back-up" form of payment.
It is for sure that spending any of that money for anything other than his specific care is illegal and will/can cause very serious problems.
Please try to get the in-laws to seek legal advise (one idea may be to go to the Social Security office) or maybe print the answers given on this site and let them read what a few other people think.
I have a medical POA for my father. Can my family come into my home and take my father and put him in a home when I disagree?
March 14, 2015
I think you have to consider what is in the best interests of your father. Why does you family want him to move? Do they think that you are taking advantage of him, or that you are not taking proper care of him, or perhaps that his care is too much for you do? Who is going to pay for his care in the future? Do they wish to move him because they think that he will be better off in a care home, or are they trying to take advantage of his funds or possessions? We can't advise you sensibly without knowing the full situation, and likely you need to talk this over as a family, and with your father's physician as well.
I have taken care of my mother's finances since my dad passed away 21 years ago. Only recently I became POA for her finances. I gave up the POA to my sister after we fought. I was told that I have to account for all checks made out to me (they were for her meds and living expenses that I paid for and then got reinbursed for). Do I need to go back 21 years or just as far as when I became financial POA?
March 6, 2015
I would check with a elder care lawyer to see if this is true. I became POA when my mom was diagnosed with Alzheimers and my brother, who lived with her, died ( (FYI, it is only in effect while the person is alive, once they die, the POA ceases immediately) but it was only for anything that needed to be done as per the originating date of the POA.
My friend's daughter has the POA for her. However, the daughter just recently went to the bank where the account was and moved the money out of my friend's account and started a new account in her name. Is that legal? First off, my friend had no knowledge until it was too late. My friend had already spoken to multiple employees of the bank days prior to this incident, attempting to get her money secured for the time being while she was in the process of getting her daughter removed as her POA. Well, after multiple employees told her how to secure her money, that next day her daughter was still able to walk in there withdraw the money and start a new account in the daughter's name. How is this possible? The daughter doesn't think what she's doing is a crime, because she is more or less trying to say that it's her money. I also noticed on one of your answers it says that a POA is supposed to use the money entirely on the person they are acting for. Well, from my understanding, the daughter has already spent a good majority of the money on her personal bills such as rent, etc. Altogether she probably has spent a little over 20 grand on all of these personal matters. Anyways, this is illegal right?
February 14, 2015
It is legal in some states. Also you will find people are advised to do this to do a spend down later on to get into a facility. Most facilities will take everything you own if you cannot pay the rent. She also may be keeping it all for herself which is abuse and should be reported. Ask her first before you jump to conclusions. She may have been advised to do this. It is very confusing.
My husband is incarcerated and he has at least 6 homes that his dad has been taking care of, a system that has been working. Now his dad brought POA papers to my husband requesting he sign them, he didn't. My husband wrote a simple letter giving him power as overseer of the property, that's it! He had it notarized. Well his dad is really pushing this POA and I'm starting to question his motives. My question is why isn't the letter enough; why keep pushing for POA?
By Kelly R
January 28, 2015
I do not believe anyone here can really help you with this as legal representation is what you need. A simple notarized letter granting your father-in-law as "overseer" of property does not give him very much legal control - not like a POA would.
Is your name on any of the property?
If not - why?
It seems for sure that your father-in-law wants more control than just "looking" after the property so it would be wise for you to try to protect what may be yours(?) and your husbands property.
You probably will not qualify for free legal services but you should try to find an attorney who is familiar with this type of situation.
I am my father's POA, he has been drinking to 300+ blood alcohol levels and as he begins to sober he starts again. Can I commit him?
By JM from Des Moines, IA
January 23, 2015
No you cannot. Power Of Attorney, either for financial or health care, means that you can make decisions in the event your father cannot. It is not up to you to decide that he cannot. Only a court can do that as you are not yet his guardian. Call the probate court where your father lives and inquire about obtaining guardianship. His physician will have to fill out a bucket of paperwork, a court social worker usually must meet your father, and then a judge or magistrate will hold a hearing.
In most states, your father must be notified and has the right to attend and speak for himself. The judge will try to determine if he is a danger to himself or others, but even that 'danger to self' thing is tricky as the law gives folks the right to live as we choose. Usually this probate court process is not very expensive and any doc who has older patients has seen this kind of thing before. Good luck to you! (PS I am an eldercare social worker in Ohio.)
Is there supervision of the person to whom I give a POA to transfer my money, which is in the bank, to me? So he might not keep the money himself?
By M H.
November 12, 2014
I certainly agree with Maw-Maw about not giving a durable power of attorney to just anyone but sometimes it becomes necessary - but - as I said it should be done through an attorney who will have final say. The POA would have the attorney's name AND (not or) another person approved by the one giving the POA.
That way any time anyone tries to use the POA, at least that would give some security with a second person approving what is trying to be done. This is not difficult but it will cost money each time the attorney has to review the POA. This can get expensive so it is best to not give a durable POA and leave all requests in a properly executed will or trust.
But - you can give a standard or durable POA with an ending date - even for just a day - so sometimes this may be the way to go.
A durable Power of Attorney can be revoked by filing with the court but few people go to the trouble to do this. Some people even forget that they gave a POA years in the past - but - without an ending date, the POA is good until that persons death.
Anyone senior dealing with a POA should try to have legal assistance even if it only with a senor citizens association. If the person is unable to visit their office, they will send someone to their house - at least they do in my area (Florida).
If my brother has a power of attorney and in the will it said our parents house has to be sold, do all siblings need to agree on selling price or can the person with the POA sell it for whatever price he wants?
By Jennie from Victoria, BC
July 27, 2011
Did you mean POA or did you mean your brother is executor of the will? It makes a difference to your question.
I think you should also heed Jilson's points. This is the sort of situation that could possibly create hard feelings for years. My ex's family has drifted apart over the years since his mom passed away and small resentments simmer under the surface that prevent them from being as close as they should be.
I have a disabled child that will be 18 soon. He has TBI (traumatic brain injury) and his condition is getting worse as he gets older. He is now 16 years old and all of sudden family members that have not been around are now willing to be helpful with my son and want to be his best buddy. I want to know how or if I can become power of attorney or executor of my son's funds to protect him from the vultures that have started to surround my son for the money he will receive when he becomes 18? I did not mention that his condition is from an accident that happened when he was 2.
October 15, 2015
You must get right on this situation. See a lawyer.
I need legal advice. My mother is on her death bed and my sisters have power of attorney and have refused me seeing my mom. She lives with one of my sisters. Some one please help me find out how to see my mom before she dies.
September 26, 2015
This is really a sad situation.
Undoubtedly you and your sister have had problems of some sort before this happened. Is there anyway to make amends to rectify this situation?
A POA does not give your sister the right to keep you from seeing your mother - but - she does have the right to keep you from her home.
I recently helped someone in a similar situation and it worked out okay.
We visited the local police station and explained the situation. All they wanted was to be able to see their loved one who was very sick. A police officer met us at the address and politely asked if we could visit this person if the officer was present. It was arranged and everything went smooth for a 15-20 minute visit.
If time is of the essence, then you may wish to try something like this.
I hope you will be able to see your mother and also - maybe make amends with your sister.
By Darryl M. 1
Is it legal for the person holding a power of attorney to keep a family member, who has been living with the parent all her life, from seeing the parent after he moved the parent out without notice?
September 17, 2015
From a long talk with my lawyer about POA, this is going beyond the POAs authority. Unless the parent has been declared mentally incompetent to handle their affairs by professional medical people, the POA has no authority.
My two brothers have POA over my mother. She has been diagnosed with dementia and one of them took my mother to the DMV and filed for a lost title to her car. My other brother had the original title to the car. Then he had her sign over the car to him so he can tag it himself and put insurance on it and have anyone drive it that wants to. Is this legal, can he do this with her having dementia? In the POA it does not state he can transfer any personal property to himself.
September 17, 2015
Once there has been a declaration of dementia by a team of doctors, her signing anything is no longer valid. Someone close to me went thro this. He is POA and upon consulting his lawyer the first thing he had to do was inform the banks and provide medical documentation. No credit cards. If the step mother were to sign a check the bank won't honor it. If you were to take documentation of the parent's status, the vehicle transfer would become null and void.
My mother died in 1999 and her estate has been settled. However I found out that there was unclaimed property in the state of Pennsylvania. I tried to put a claim in, but the amount was too much. I told my brother the money was there. He has the Power of Attorney and is the executor who was the only one who could claim it. A verbal agreement was to share it, but that is not happening. What are my rights? It says "Any claimant to whom payment is made shall be answerable therefore to anyone prejudiced by an improper distribution."
September 11, 2015
If your mother is deceased then a POA is no longer a legal document as a POA is only for while the person is alive.
You should seek advice/council from an attorney who specializes in wills/estates to find out your legal rights. Perhaps the attorney who settled the estate could advise you?
If your brother has received this money then he must have legal rights to do so. Maybe he is the legal executor of your mother's will? If so, she must have felt/thought he was the best one to handle her affairs after her death. Sometimes we can be wrong about our opinions of people when it involves money.
I would suggest that you act quickly.
I have durable power of attorney over my dad and I just found out that the last 10 pages are missing. Now what do I do?
September 3, 2015
Who ever or what ever lawyer did the poa should have copies
I am from Hyderabad. I want to take money from a financier for interest and give power of attorney for 6 months. Is it safe to give power of attorney to a financier and is there any chance that the financier can misguide my property, run away from here, and come back after completion of agreement? As per law I have to give money back in 6 months and cancel the agreement. If the financier is not available on given completion date of agreement I will lose my property.
September 7, 2015
You need to consult someone with some knowledge of the laws of your country. Offhand, I wouldn't do such a transaction here in Canada. It sounds dangerous to me.
My mother died 9 months ago, she was in a car accident had a few strokes, had diabetes and was bed ridden for 4 years. In the mean time, my sister obtained power of attorney and moved money around and even destroyed a will that was in a drop box at a local bank. My sister took $67,000.00 and bought a forclosure home right out in Arizona, she put the house in her daughter's name and grandkids names. She also moved money from one bank to another and out to a bank to Arizona which has my sister's daughter's name on it, the amount we are talking about is 1 million dollars. My sister made a will but my mom refused to sign it and my sister's lawyer refuses to send copy. Is their any thing I can do about any of this since she did buy a house with our moms money while my mom was still alive and then took both properties and all the money that my mom had already had divided out?
August 13, 2015
You need legal representation. Your sister stole a million dollars.
By nannyrose 1
I am a caregiver to a man who had a stroke 29 years ago. He gave POA for financials to his childhood friend and I have POA for personal care. But his friend has not given him any information in the last 4 1/2 years. Doesn't he have an obligation to keep him informed of the state of his investments?
Who is responsible if you have a power of attorney on your checking and savings account? Just in case you can not pay your bills and then you die. Is she responsible for the bills.
Joyce from Wisconsin
I may be wrong, but I believe that the power of attorney ends when the person dies. Then the responsibility goes to the executor (or whatever it is called in your locale) who then deals with settling the debts of the estate. They should not be able to hold the person with power of attorney responsible for anything other than things to do with the person's affairs and only while they are alive. Like I say, I may be wrong, but that is the understanding I have of the law of my state.
I found a link that will help explain it:
Susan from ThriftyFun (10/25/2007)
I agree with what Susan posted. The power of attorney ends when someone passes away. The administrator or exceutor of the estate makes payments for the bills and the money comes out of the estate. I listen to an attorney radio program on WJR and they say the same. (10/25/2007)
By LITTLE SUZY
The power of attorney is for the person named as power of attorney to handle financial matters for someone who is disabled. I have 13 clauses in my power of attorney and a clause for penalties to the person who is to execute the acts and deeds should they abuse the terms of the power of attorney.
This is not to be confused with a power of attorney for health care also known as a living will. These instruments can get very complicated and one should see an attorney to have one drawn up.
The person was has been named to execute a power of attorney has no further responsibilities once the person dies and is not responsible for the deceased debts while they are living or when they die. The executor of a will pays any debts from the deceased assets. If the deceased has no will then the state will decide how the deceased property is to be probated.
Carole (the guest posting) may have something other than a POA for her brother, such as joint ownership or as co-signor for the specific debt/mtg. As Susan stated, POA gives the person the ability to manage the account should something happens to you. If you die, the money in the accounts may be use to pay off your debts, but if there isn't enough he/she will not be responsible for the deficit
Anna, NYC (10/26/2007)
We recently discussed this in one of my law classes. The executor, administrator, or the heirs are not responsible for debt that cannot be paid off by the estate. Many times, people are either not aware of this and make arrangements with creditors; or think "Mom wouldn't want this to be unpaid. I'd better pay it." I don't think that there is a creditor alive who would refuse payment, even if it wasn't obligatory. (10/29/2007)
If a person has a POA over a parent and gives the parent permission to drive a vehicle and that parent has an accident is the person in charge of the POA responsible financially in any way?
By Ruby from Farmington, NM
The best answer would be from an attorney who is familar with that type of law. (11/09/2010)
You would have had to have seen a lawyer to get the POA so call that person and ask. (11/10/2010)