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By Loretta from IL
By
09/04/2010
No, the person designated with power of attorney doesn't have to provide financial reports.
By
08/16/2010
I don't know what the legal responsibility would be, but unless there is a greedy sibling trying to get something that does not belong to them, I would share as much info as possible to keep peace.
By
08/14/2010
I cant answer legally as I am not a lawyer, but I think if you respect family unity, I would do so. Ask yourself how you would feel if the situation were reversed.
By
08/14/2010
Hello,
The answer is yes. Other siblings have a right to know and if you don't provide them with the information, they can take you to court to get any answers they need to know.
By
08/13/2010
I honestly don't know about legally but morally I think they should! This is a question best asked from the heart or from an attorney.
By
08/11/2010
I beleive the answer would be no. But others might have more info or you may find more info on the internet somewhere. Like Ask.com
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
By louel53
07/27/2011
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.
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.
By bjsmom
06/05/2011
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).
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.
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