I have POA, but my mother is competent. I need advice for finances.
I have POA but my mother is competent. However my brother is pushy in getting her to give gifts and re-arrange her stock portfolio. You see he is a stockbroker. But he is also a drug addict. What can I do to curtail or stop his behavior?
As hard as it is to "rat out" a sibling to a parent ( as a grown up, it's REALLY HARD, as a kid, it was fun!). You're not doing mom any favors by covering the truth.
Your POA doesn't mean anything if mom can make her own decisions. All you can do is warn her. Remind her she's going to NEED all her money now, in and the future. You probably can't do much about brother--takers will continue to take.
No, my mother does not acknowledge his drug use. I have kept her in the dark about it because I don't want her to worry. But I now think this is a mistake. I think I will feel better if everything is out in the open.
Your mom needs to see a lawyer to have him or her explain to her how dangerous it is to give money away as an older person who one day may need medicaid. Plus, it is a conflict of interest as a stockbroker to be making money off of his mother's money. That's my opinion.
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Your POA doesn't mean anything if mom can make her own decisions. All you can do is warn her. Remind her she's going to NEED all her money now, in and the future. You probably can't do much about brother--takers will continue to take.
because I don't want her to worry. But I now think this is a mistake. I think I will feel better if everything is out in the open.
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Does she acknowledge his drug use?