How do I begin using a power of attorney?
I have power of attorney for both my parents for financial purposes. I have just also had "Determination of Incapacity" statements signed off by their doctor so that I can handle all matters (including a pending sale of their home).
Do I need to take these signed forms and POA to a lawyer to get formalized before taking to any banks/other institutions to allow me to handle their financial matters?
Expert Answer
Depending on what state you're in and what institutions you need to deal with, you may need to take another step or three to act under the power of attorney. But you shouldn't need to hire a lawyer.
You've already accomplished the most essential task of getting the doctor's certification. Most institutions will act on this authority alone"”although some will require you to fill out a simple inhouse form in addition.
And in some states, you need to get either the power of attorney or a separate document notarized and recorded in the local title office or registrar of deeds before you can sell another person's house as agent. Call the office closest to the real estate to find out the procedures required locally. These steps, too, should involve simple legwork rather than particular legal expertise.