Are you able to collect a monetary gift from your parents once you become POA?

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Since i am given the guardianship over my father, am i able to have a one time monetary gift from him.

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Sure. He can give you up to $14,000 in any one year tax free. Problem is that if he applies for Medicaid within five years of any such gift, Medicaid will expect those gifts to be paid back.
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Here are some somewhat related answers and the sources:

He may be able to have legal access for himself to his mother's assets through his co-ownership of the assets; he may be able to compensate himself for expenses through the Durable Power of Attorney; and he may be able to make gifts through the Durable Power of Attorney.

scscourt/self_help/probate/property/probate_overview.shtml#paid

In addition to your out-of-pocket expenses to manage and settle the estate, personal representatives usually earn a statutory fee of 2% - 4%of the probate estate. The percentage decreases as the size of the estate increases. The Court must approve all fees and expenses

My thoughts are that in good conscious you should reemburse your expenses. By agreeing to poa without asking for payment at the start you should not gift yourself without negotiations with him/er and heirs. You may pass the responsibility back, or to the court if an agreement cannot be accomplished. Simply be forthright and fair.

And if the gift isn't for yourself as payment then tread carefully. First can he afford it now and in the foreseeable future? Will you benefit? Are you absolutely certain he would approve and can you support it proof? Is it really a loan? Do all involved parties (him, heirs, attorney) agree. Can you clear it with the court beforehand? Example: Grandchild tuition, limited life expectancy, previous tuition gifts to the grands,
OR: Personal real estate investment, looming hospital bills, not agreed upon by heirs.
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Whether you're a DPOA or a court appointed guardian, your first duty is to do actions that ensure the elders financial security and health. Your paying yourself a "monetary gift" well that's kinda outside of their needs.

If you are a guardian, you have to fill out whatever forms required by the court to report your wards's status, the "gift" will have to be reported and the probate judge is not likely to be happy that you paid yourself first & foremost. If your DPOA, that has less oversight but IF they need to go into a NH and apply for Medicaid anytime in the next 5 years, that "gift" will become a transfer penalty that you will have to pay if you want them to stay in the NH.

Also if another family member doesn't like the "gift", they can contact SSA to request a review of the elders representative payee status….which means required reporting as to where funds went. SSA is proactive in wanting representative payee situations done too.
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Are you attorney-in-fact under a Durable Power of Attorney and/or Guardian, or both?

What kind of gift did you have in mind?

Your profile states that your father has Alz/dementia. When did he grant you the DPOA authority?

Are you thinking that the monetary gift is compensation for your services?

More information is really needed to response to your question, especially if your father has limited funds and might eventually need Medicaid assistance.
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