Power of Attorney for Finances Questions

1. How do we, with a power of attorney, take control of a credit card account in the cardholder's nickname?

   You're in a rather unusual position, and very well may fear that there are other debts looming out there to be paid.What will get the credit card company's attention the fastest is to take action to close down the account now in the principal's nickname, which is probably a good idea anyway...
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2. How can I take over Mom's finances without her consent?

   The hard truth is that you can’t force your mom to complete a power of attorney for finances if she refuses to do it. But there are other practical steps you can take to curtail her access to her own funds—and it sounds as if you and your sister have already started that process.
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3. Does a durable financial power of attorney for my mother...

   No, it does not. An agent is not responsible for the debts of the person for whom he or she is acting.
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4. How can I pass responsibility of an estate?

   From all you’ve written, it sounds as if your part in your aunt’s affairs IS over—except for the unfortunate matter of getting the mail and notices, which likely stirs up some grief and angst and anger and other confused and confusing thoughts for you.
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5. What Can I Do if I Suspect That Someone Given Power of Attorney Is Acting Fraudulently?

   A person named as an agent in a power of attorney has the legal duty to act in "the best interests" of the principal -- that is, the person who made the document. While that's a little fuzzy as a legal standard, the greater practical truth is that you know fraud when you see it: for example, money being...
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6. Is a Guardian Legally Required for Someone With Advanced Dementia?

   No law requires that a guardian be appointed for someone with advanced dementia. Guardianships, also called conservatorships, are usually only needed when someone has good evidence that a person's medical care, finances, or other personal matters are being ignored or mismanaged -- or when there are a lot of feuding family members in the picture...
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7. How Can I Prevent a Stepparent From Mismanaging the Finances of a Parent With Alzheimer's When I Have Power of Attorney?

   First, get clear on whether the power of attorney naming you as your parent's agent has actually taken effect. You need to look at the specific wording of the document to find that out.
   FAQ 1 Expert Answer, 3 Community Answers

8. What authority is needed to gather a parent's documents for Medicaid?

   For your father to qualify for Medicaid, he needs to show that his income and assets are below the Medicaid eligibility levels in the state where he lives. This means providing income tax, bank and other financial accounts, and Social Security information, as well as documents about any assets he has...
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9. What kind of financial help for caregivers is available?

   Unfortunately, there are no government programs that pay family members directly for caring for their elderly relatives. But it is legal for your grandmother to pay you a reasonable amount from her own funds, even if some or all of those funds come entirely from government benefit programs...
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10. Is it legal to distribute funds from a joint checking account after death?

    Double check with the bank to be sure you are a joint owner on the account. If you are listed as a joint owner of the checking account--and it sounds as if you are--then you can certainly write checks for your neighbor. You could also write checks to cover your own needs, so your neighbor showed a lot of trust in adding you to his account...
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11. What is the difference between durable and general power of attorney?

    The biggest difference is in when the power ends.A general power of attorney ends when a person becomes mentally incapable because of sickness or injury to handle his or her own affairs. A durable power of attorney does not end in these circumstances. It is, in a word: durable...
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12. If I have power of attorney for my mother, does she need to be with me to close credit card and other financial accounts?

    If your mother has appointed you the agent in her power of attorney, you should not need to have her with you when you close the accounts; that's one of the reasons people give someone a power of attorney—to assist them when they can't do things themselv...
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13. Can my aunt get power of attorney for my grandmother's finances without her other siblings' authorization?

    The power to name your aunt as agent in a power of attorney for finances would come from your grandmother—and she is free to name whomever she wants in this role, as long as she is mentally competent to do so. No one else would need to be consulted or to authorize the arrangeme...
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14. Is there anything I can do about my parents making bad investment decisions?

    Although the most respectful and practical course of action may be to deal with your parents making bad investments by helping to educate them as to where they are making mistakes, particularly as their investments increasingly become risky speculations rather than carefully thought out invesments, if...
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15. Can I refinance Mom’s house to pay for care?

    To find out the answer to this question, you will have to do something that may seem a little distasteful: Make a close reading of the document that appointed you to act as the power of attorney.
    1 Expert Answer, 1 Community Answer

16. What rights do I have in a shared POA role?

    Rankling as it may feel, your sister and step-sister’s actions and inactions may well be perfectly legal. But you describe an estate plan that seems to involve a lot of different documents, powers, and people named to control, so getting to the bottom of who controls what may take some patience and d sleuthwork...
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17. How can we handle finances if there is no appointed power of attorney?

    You may be able to proceed informally for a short time—that is, pay bills and necessities if there is a co-signor on your mother-in-law’s bank or checking accounts or if they are jointly owned,
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18. How do I sign documents if I have power of attorney?

    Your question points up one of those interesting legal conundrums: You go through the hoops to take care of business, then no one quite explains the fine points about how to put your power into place.
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19. Can I force dad into a care facility if I hold his POA?

    Unfortunately I think you do not have any good options. Unless a court declares him to be legally incompetent he has the power to decide how to he wants to live his life, however foolish or self-destructive his choices are. The fact that you have a POA doesn't give you authority to compel him to move...
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20. What is the difference between Medical and Durable POA?

    There may not be any difference between a medical and durable POA. Or there may be.
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