The Mother selected her son to be the POA years ago. POA is written by a Trust Attorney and appears in the trust. The son is now responsible for her financial care.
Think I read a while back that in the USA some financial institutions would not honour the POA unless it was their own forms that had been completed!
Which made for fun as that’s why did POA documents yet being refused and now person incompetent so couldn’t sign new ones by that specific financial institution. One person got round it by taking their mum on a good day to sign new one!
Normally a POA has the right to review bank accounts - though generally they just act and monitor from the time they take on the responsibility.
I sense there's a lot more to this situation than the question. And your choice of words leads me to believe that this may not be a situation in your family. Are you concerned about someone you know, or are you related? What is your role?
If you mean, can the POA look over his mother's bank accounts to understand her costs, her spending patterns, her income, her assets and so on - the POA not only has the right to, the POA must do this. The POA is taking responsibility for her finances. Of course he needs full information about them.
If you mean, does the POA have the right to delve back into the past... Well, for at least the last five years, certainly he does. He may have to produce accounts for all sorts of purposes, and will need access to his mother's financial history.
Who is disputing the son's right to this information? If it's the mother, and she is still legally competent, she can solve the problem by revoking the existing POA and appointing somebody else (or not, even). If it's the mother and she isn't legally competent, but she still doesn't like her son asking questions, that's trickier.
Would you like to explain what problem has arisen in a little more detail?
Leagleeagle, I was financial Power of Attorney for my Dad, and when Dad decided he no wanted to bother paying bills, etc. I was allowed to set up a checking account with both our names [no funds co-mingled] and to review all financial matters.
Is there a problem with the son keeping tabs on his Mother's financials? Curious why you had asked.
Which made for fun as that’s why did POA documents yet being refused and now person incompetent so couldn’t sign new ones by that specific financial institution. One person got round it by taking their mum on a good day to sign new one!
Normally a POA has the right to review bank accounts - though generally they just act and monitor from the time they take on the responsibility.
Lol re name and question !
If you mean, can the POA look over his mother's bank accounts to understand her costs, her spending patterns, her income, her assets and so on - the POA not only has the right to, the POA must do this. The POA is taking responsibility for her finances. Of course he needs full information about them.
If you mean, does the POA have the right to delve back into the past... Well, for at least the last five years, certainly he does. He may have to produce accounts for all sorts of purposes, and will need access to his mother's financial history.
Who is disputing the son's right to this information? If it's the mother, and she is still legally competent, she can solve the problem by revoking the existing POA and appointing somebody else (or not, even). If it's the mother and she isn't legally competent, but she still doesn't like her son asking questions, that's trickier.
Would you like to explain what problem has arisen in a little more detail?
Is there a problem with the son keeping tabs on his Mother's financials? Curious why you had asked.