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Tue Apr 10, 2018, 12:08 PM

Power of attorney question

Mom and stepdad are going into assisted living. Mom wants me to have poa. Stepfather is fine with it but has dementia. They have a joint account. Is it necessary to close the account & reopen one in her name or can we just do it without him signing anything? His social security is directly deposited to their account & her Medicare supplement is debited from their account so we don't want to screw with that.

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Response to narnian60 (Original post)

Tue Apr 10, 2018, 12:29 PM

1. Your Mom needs to go to the bank and fill out their POA

A lot, and I mean a lot, of financial institutions will not accept attorney generated POA's. That being said, if it's a joint account there shouldn't be any problem. It's no different than your Mom signing things now.

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Response to Phoenix61 (Reply #1)

Tue Apr 10, 2018, 12:38 PM

2. Interesting about attorney generated poa.

Thanks for replying, Phoenix. Her bank said they have no form, so I bring my own form with my mom and they will notarize it. I didn't tell them my step-dad was also on their account so that what worries me.

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Response to narnian60 (Reply #2)

Tue Apr 10, 2018, 12:42 PM

3. I didn't know about it either until my Dad passed unexpectedly.

and I "inherited" my Mom, who had advanced dementia. Talk about a goat rope. I was told there had been so many cases of "children" bringing in POA's and ripping off old folks banks got very skittish about the whole thing. If your Mom is there they know she isn't being scammed.

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Response to narnian60 (Original post)

Tue Apr 10, 2018, 01:37 PM

4. The best money you can spend is for an Elder Law attorney.

Initial consultation is $25.00 or usually free.

Have your mom bring all the financial stuff she can think of, including current financial expenses, debts and assets.

Were either of them combat veterans? That brings a lot of benefits people don't know they are entitled to. (Sorry, Ms. W., 9th. grade teacher) for ending my sentence with a preposition).

You can get referrals from their county Bar Association.

I hope this helps.

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Response to 3Hotdogs (Reply #4)

Sat Sep 22, 2018, 08:21 AM

7. I absolutely agree with this. I finally talked my dad into changing to one...

When my mom got very ill and the elder law lawyer was so much more helpful. I just wish my dad had followed my suggestion sooner. It literally would have saved him thousands of dollars and he would have been a bit less stressed and sleeping better.

Most people don't think about there being law specialists but it can be just as important to get the right type of lawyer as it is the right type of doctor.

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Response to narnian60 (Original post)

Tue Apr 10, 2018, 10:19 PM

5. You can become your mothers POA with her coming along and signing.

Things may become more complicated when it comes to your stepfather, because of his dementia.

Remember, a complete POA is not limited to banking. Many other areas are covered by a POA, which a bankís form will not cover. A brief consultation with a lawyer experienced in elder law can make a big difference in your coming years with your mother and stepfather. Itís important to get things clarified now. Without that you can face a lot of complications that can make a difficult situation even worse.

You can find a referral to an ethical attorney through a local senior center, county government, etc.

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Response to narnian60 (Original post)


Response to narnian60 (Original post)

Mon May 6, 2019, 08:47 PM

8. is it a community property state?

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Response to narnian60 (Original post)

Mon May 6, 2019, 08:50 PM

9. i just went thru something similiar..this is a good reminder to get a will drawn up..

...no matter how young you are...and only appoint ONE person to have POA and..in your will stipulate if anyone objects to the will they will only receive 1$ ( assuming you were going to leave them anything anyway)

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Response to narnian60 (Original post)

Tue May 21, 2019, 10:34 AM

10. Definitely get a general, durable POAs

Both my parents had them drawn up designating me, but you don't need to open a new bank account. I took my POA to the banks my folks used and I am able to sign my name to their checks as PoA (/sign/, Pwr of Atty) even on a joint account after my dad passed away.

I'd also suggest getting a health care power of atty document and advance directive/living will, if that's something they want. The health care poa will allow you have access to all their medical information otherwise you could run up against HIPPA non-disclosure rules despite being a child. This document has been just as useful as the PoA.

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Response to DeminPennswoods (Reply #10)

Sat Jun 8, 2019, 09:47 AM

12. also file it with the court house

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