I am not in Indiana, but the language of the POA DOCUMENT in my state can be written to dictate dispersal of personal property as “gifts”, which allows possessions to be distributed at the discretion of the POA.
While my grandmother lay actively dying in a NH, she gave mother and me instructions on how to dissemble her home and to whom she wanted to give what.
It was kind of weird, and we were not 100% on board--since there was a slim chance she might have recovered---nevertheless, we were doing what she wanted us to do.
Not ONE THING went out of that condo until grandma had passed.
A: It would have been disrespectful and B: It would have been illegal.
She wrote her will and in it said "Anyone who contests any portion of this will shall receive $1 and my eternal disdain. That was SO grandma. She made that addendum for her grasping youngest daughter. Kept her in line, for sure.
If a person wants to personally gift someone something from their home of their own free will, prior to their deaths, that is OK. But better have a witness. A couple of weeks ago, just out of the blue, mother told me to take a statue I had bought for her and dad about 35 years ago. She said "I can't even see it anymore, you may as well take it now". I had my YB 'witness' this, as I didn't WANT to take it and have ANY issues.
I 'could have' simply taken the statue, it's willed to me anyway, but I would never do so without mother's say so.
MidKid, the $1 bequest is known as an "in terrorem clause", although the "eternal disdain" is apparently your mother's own addition. (and I do like it!)
I wish I had known about this when my sister's and father's documentation was prepared. It could have avoided the nuisance and rigamarole of living trusts.
I see nowhere where the OP says they are the POA. But, I agree with the others the answer is No.
Any money made from the sale of Moms property goes into her bank account to pay for her care or her bills. There are no beneficiaries until she passes. Once Mom was in an AL, I started cleaning her house out for sale. She owned nothing that was worth anything so most of the stuff was donated. We children did take pictures and things that meant something to us. But if I had had a yardsale or estate sale that money would have gone in Moms bank account. If she had antiques, they would have needed to been sold at Market Value and that money put aside same with selling Moms house, Market Value and proceeds put in acct for her care and needs.
My SIL placed her Mom in a Independent living apt. She was able to sell Moms house at a very good price. The money was put in an acct to help offset Moms care and living expenses. First thing out of SILs sisters mouth was "How much do we get of that". Really, her Mom was not even dead and she thought her children deserved a "cut". Where does this mentality come from?
No. I would suggest an hour of a lawyers time to understand just what a POA is and what they can and cannot do. First of all, the POA can act without the permission of the person who appointed him or her ONLY if that person is incapacitated. Then he can act for that person in a way that he understands that person would wish him to act, or in that person's BEST INTEREST. Any and all sales of any and all items would be put ONLY into the accounts of the person represented. CAREFUL and meticulous records are kept of any and all assets on a monthly basis, with careful PROOF and accounting of all bills paid, of all assets out and of all assets in. These can be seen at any time of APS if called, by the courts, by any governmental representative, and are crucial should the elder ever require medicaid, to prove that the elder did no gifting in the past 5 years (in most states) and that his representatives did not. The fact that you have asked this question worries me in so far as your ability to act as POA for the person who appointed you. This is one of the most basic things that should be known. Please do see a lawyer at once. If you are not capable of handling this crucial task then the elder must appoint someone else if competent to do so, or the State may require a conservator or guardian within or without the family (paid Licensed Fiduciary.) Wishing you the best. Do go online to begin to get some idea of your duties and obligations.
I am not the POA in question. It is my brother. I take offense that you assumed it was I. I am questioning my brothers intentions as I am questioning the legality.
Note that the POA is still strictly responsible for acting in the principal's best interests. So be extremely wary of Medicaid rules if at all applicable. Personal property may be exempt, but cash/money never is.
I can't imagine a situation where it would be "safe" (or ethical) to do this, and you are asking an anonymous crowdsourcing forum for an answer that could get you and your LO in hot water with no accountability (and certainly not enough background info). Rules differ from state to state. We don't even know if your LO is in a facility, is on Medicaid, may ever need Medicaid, or why you are in a rush to distribute their estate. If I were you I'd take your PoA paperwork to an attorney and ask this question. I agree with MJ1929 that this is a hard no for sure.
I'm not in Indiana, but I'm pretty sure that's a hard no. Those possessions and the money from the sale of them (also more than a little questionable) still belong to the parent. That money needs to be in the parent's bank account and no one else's.
The POA has a pretty important legal role to look after the finances of the person who bestowed it on them, and if they're not following the rules, they can get in a whole heap of trouble.
It was kind of weird, and we were not 100% on board--since there was a slim chance she might have recovered---nevertheless, we were doing what she wanted us to do.
Not ONE THING went out of that condo until grandma had passed.
A: It would have been disrespectful and
B: It would have been illegal.
She wrote her will and in it said "Anyone who contests any portion of this will shall receive $1 and my eternal disdain. That was SO grandma. She made that addendum for her grasping youngest daughter. Kept her in line, for sure.
If a person wants to personally gift someone something from their home of their own free will, prior to their deaths, that is OK. But better have a witness. A couple of weeks ago, just out of the blue, mother told me to take a statue I had bought for her and dad about 35 years ago. She said "I can't even see it anymore, you may as well take it now". I had my YB 'witness' this, as I didn't WANT to take it and have ANY issues.
I 'could have' simply taken the statue, it's willed to me anyway, but I would never do so without mother's say so.
"eternal disdain" is apparently your mother's own addition. (and I do like it!)
I wish I had known about this when my sister's and father's documentation was prepared. It could have avoided the nuisance and rigamarole of living trusts.
Any money made from the sale of Moms property goes into her bank account to pay for her care or her bills. There are no beneficiaries until she passes. Once Mom was in an AL, I started cleaning her house out for sale. She owned nothing that was worth anything so most of the stuff was donated. We children did take pictures and things that meant something to us. But if I had had a yardsale or estate sale that money would have gone in Moms bank account. If she had antiques, they would have needed to been sold at Market Value and that money put aside same with selling Moms house, Market Value and proceeds put in acct for her care and needs.
My SIL placed her Mom in a Independent living apt. She was able to sell Moms house at a very good price. The money was put in an acct to help offset Moms care and living expenses. First thing out of SILs sisters mouth was "How much do we get of that". Really, her Mom was not even dead and she thought her children deserved a "cut". Where does this mentality come from?
First of all, the POA can act without the permission of the person who appointed him or her ONLY if that person is incapacitated. Then he can act for that person in a way that he understands that person would wish him to act, or in that person's BEST INTEREST. Any and all sales of any and all items would be put ONLY into the accounts of the person represented. CAREFUL and meticulous records are kept of any and all assets on a monthly basis, with careful PROOF and accounting of all bills paid, of all assets out and of all assets in. These can be seen at any time of APS if called, by the courts, by any governmental representative, and are crucial should the elder ever require medicaid, to prove that the elder did no gifting in the past 5 years (in most states) and that his representatives did not.
The fact that you have asked this question worries me in so far as your ability to act as POA for the person who appointed you. This is one of the most basic things that should be known. Please do see a lawyer at once. If you are not capable of handling this crucial task then the elder must appoint someone else if competent to do so, or the State may require a conservator or guardian within or without the family (paid Licensed Fiduciary.)
Wishing you the best. Do go online to begin to get some idea of your duties and obligations.
Note that the POA is still strictly responsible for acting in the principal's best interests. So be extremely wary of Medicaid rules if at all applicable. Personal property may be exempt, but cash/money never is.
The POA has a pretty important legal role to look after the finances of the person who bestowed it on them, and if they're not following the rules, they can get in a whole heap of trouble.