Are there any lawyers here or anyone that knows about power of attorney?

The New Intimacy

Are there any lawyers here or anyone that knows about power of attorney?

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Contributor: unfulfilled unfulfilled
My elderly grandmother has four children and two of them are her power of attorney. My uncle checked about three months ago and saw what was in her account, and then just recently checked and noticed that his sister has speant $7000 in three months. We know for a fact that my aunt bought my cousins camper and a new pool for her own personal enjoyment. Is it possible to get it written that the bills have to be signed by both siblings that have power of attorney so they know where the money is going and that my aunt isn't draining my grandmother of all her money for her own personal use.

I'd really appreciate any feedback on this.
06/25/2012
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Contributor: Ansley Ansley
Quote:
Originally posted by unfulfilled
My elderly grandmother has four children and two of them are her power of attorney. My uncle checked about three months ago and saw what was in her account, and then just recently checked and noticed that his sister has speant $7000 in three months. ... more
It should be possible, but I think your grandmother would have to authorize the change and that's when things could get ugly. I wish I had more advice but I hope someone else comes around who does! Good luck!
06/25/2012
Contributor: - Kira - - Kira -
Yes, you can get that set up, but as Stormy said your grandmother would have to authorize it. If you think there's abuse of the funds, you may want to speak to the bank about possible elder abuse. Most large banks have elder abuse departments that could watch the account for potential abuse. I'm not sure what they do if they decide it's happening, but I assume there are legal ramifications for the person abusing the PoA.
06/25/2012
Contributor: indiglo indiglo
Indeed. My grandmother turned over most of her finances in the last couple of years too. It really isn't difficult (unless your grandmother has issues with Alzheimer's or dementia) but you will more than likely have to make a trip to the bank and all that.

In fact, what we do now is give my grandmother just a little money in her solo account each month (enough to cover her out of pocket stuff), while the majority of her money goes into one that the family manages for her (and we pay her bills out of that for her). That way she'll have some money when an emergency comes up or she just wants some of her money, but most of it remains protected. (Because there are also some family members who totally sponge off her and she has trouble saying no and gets confused easily about money stuff.)

Best wishes! Sounds like a sad situation.
06/25/2012
Contributor: unfulfilled unfulfilled
Thank you all for the advice, it's such a complicated situation and we didn't know what to do. She does have stages of demenita.
07/03/2012
Contributor: KrissyNovacaine KrissyNovacaine
I don't have any advice, but I am sorry that this is going on, and I wish your family the best of luck getting it worked out.
07/03/2012