Who should have copies of a power of attorney for finances?

Page 8 of 8 Things to Know About Power of Attorney for Finances

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The original power-of-attorney document should be kept in a safe place, either at home, in a safe deposit box, or at his lawyer's office. The person named as agent or attorney-in-fact in the document should be given a certified copy and told where the original is. Alternate or successor agents should also get certified copies and be told where the original is, as should close relatives. His tax preparer, accountant, lawyer, and broker should have copies in their files. And each financial institution where he regularly does business or maintains an account should also have a copy for its files.

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6 months ago

Hello Anonymous, Thank you for your email. Here is an Ask & Answer page all about POA and liability over debts: ( http://www.caring.com/questions/power-of-attorney-debts ). I hope that helps. Take care -- Emily | Community Manager


Anonymous said 6 months ago

Question for you: I f you do have a power of attorney, and are paying the bills for care, and the parent runs up a huge debt without you knowing on an unknown new credit card, are you responsible?


Anonymous said 9 months ago

We are going through this right now - and the articles are very much appreciated.


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