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mary3311 Asked June 2014

As POA, can I receive some sort of payment for my time?

I have used many days off to take care on mom's care and finances.

igloo572 Jun 2014
If mom has the funds, she can do a "personal services contract" to you to manage her finances or her needs. It should be drawn up by an attorney so that it OK for your state laws and so that IF later on mom applies for Medicaid it will not be viewed as a possible transfer penalty on mom's funds. Now it will be a job and as such it needs to be declared as income by you, so taxes paid on all this too.

The rate kinda depends on what is the community standard for this. If you are a professional and have a base hr or day rate, then it can be that amount. If you have a business, then you might be able to not do the personal services contract but instead bill mom as per the business with invoices, etc.

gladimhere Jun 2014
Vegas is correct there may be instruction in POA that you can pay yourself. But make sure you keep time spent well documented and find out what is considered reasonable rate.

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vegaslady Jun 2014
Read the POA document. What does it say about compensation for you?

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