My father recently had a stroke and may not be able to care for himself. What should I do with his finances?

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For simple bill paying you can become a "signer" on his bank accounts. You can use any online banking system and this will help you monitor his finances.
If you need more extensive access, then he has to authorize Powers of Attorney for both his medical and financial needs. He needs to be of sound mind to do this.
good luck
Top Answer
So sorry about your dad. If you father is unable to care for his own finances, you have several options. A simple POA, done by a lawyer, will allow you to sign for him. A lawyer can help you do a guardianship or conservatorship, allowing you to act in his best interest on all matters. If you don't want to be responsible for the finances, you can hire a geriatric care manager who does fiduciary responsibilities and household financial management. There are also accounting firms that do this. The first step will be to decide how much help he actually needs and how much you are willing to assume.
Having just gone through this, I would suggest that you get a POA. You can get in online for free and you will find that just about everyone you talk to will want a copy of it so make alot of copies to have on hand. You don't need a lawyer only some witnesses and I suggest a letter from his doctor to attach that states his condition to attach to it for your protection. I had a lawyer friend look at it to make sure that it was ok.
Dear Cath~although I am not all that familiar with stroke procedures, I certainly would imagine it would be in everyones best interest to attain POA over your parent's finances, as well as health soon as possible.
This could possibly be a win -win situation for everyone involved.
Best to you and to your family,

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