Commented on a discussion 1/5/2011 at 4:15 pm
Babs - I've never heard of a reputable third party that will handle someone's finances. I'm sure there are people out there who will offer to do it, but I personally would not trust my mom's finances
...Read MoreBabs - I've never heard of a reputable third party that will handle someone's finances. I'm sure there are people out there who will offer to do it, but I personally would not trust my mom's finances with anyone else. I think you need to just take this over yourself.
BTW - from your description of your mom, my mom was farther along in her Alz when she signed the financial and medical POAs for us, so it shouldn't be an issue.
Once the POA is done, open a new bank account and get all the direct deposits changed. Then close the old one.
In opening the new account, I recommend you don't ask the bank for a "joint" account. Instead, ask them for an account with you set up as the POA for your mom. In the future, if *you* ever owed money for something (legal item, back taxes, child support, etc.), it can be taken out of a joint account. But if you are just listed as POA for your mom, your creditors cannot touch the account.
Good luck!