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narnian60

(3,510 posts)
Tue Apr 10, 2018, 12:08 PM Apr 2018

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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Phoenix61

(16,954 posts)
1. Your Mom needs to go to the bank and fill out their POA
Tue Apr 10, 2018, 12:29 PM
Apr 2018

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.

narnian60

(3,510 posts)
2. Interesting about attorney generated poa.
Tue Apr 10, 2018, 12:38 PM
Apr 2018

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.

Phoenix61

(16,954 posts)
3. I didn't know about it either until my Dad passed unexpectedly.
Tue Apr 10, 2018, 12:42 PM
Apr 2018

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.

3Hotdogs

(12,210 posts)
4. The best money you can spend is for an Elder Law attorney.
Tue Apr 10, 2018, 01:37 PM
Apr 2018

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.

WePurrsevere

(24,259 posts)
7. I absolutely agree with this. I finally talked my dad into changing to one...
Sat Sep 22, 2018, 08:21 AM
Sep 2018

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.

enough

(13,237 posts)
5. You can become your mothers POA with her coming along and signing.
Tue Apr 10, 2018, 10:19 PM
Apr 2018

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 bank’s 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. It’s 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.

Response to narnian60 (Original post)

samnsara

(17,572 posts)
9. i just went thru something similiar..this is a good reminder to get a will drawn up..
Mon May 6, 2019, 08:50 PM
May 2019

...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)

DeminPennswoods

(15,246 posts)
10. Definitely get a general, durable POAs
Tue May 21, 2019, 10:34 AM
May 2019

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.

Response to narnian60 (Original post)

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