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I am the POA. As we lived, my dad and I, I spent money on his behalf. My dad and I made agreements about how much money I should pay for something or that he wanted to buy me something. For instance we agreed that he would pay all expenses for the car since I had to drive him everywhere and shop for him. How detailed to my explanations have to be. I didn't keep any records. I don't ever keep records for my money either. None of my brothers asked to help. One refused to help with finances when I asked him.

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I went to a lawyer. That right there relieves so much pressure. He is drafting a letter that I am going to send them. It will not be specific but it will tell them that everything that was spent was done with father's consent or in his behalf as he would have done it himself. I have to start getting credit card receipts but there is still so much I just don't remember. So, I forgot but my father and I had a cooperative spirit. Yes, if he went to grand children's birthday I helped him pick the gifts out or helped him bring food to help with the meal,
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Condolences on the passing of your father. In spite of all this financial mish mash, how are YOU doing? Many hugs, Judy.
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The executor can't just not like it - he'd have to be able to demonstrate that the money was spent otherwise than for the donor's benefit for the POA to be in trouble. If you spend the money on mink-lined earmuffs and caviar, as long as it's for the donor's benefit and is what the donor wants (as far as can be ascertained), you're in the clear. Think of yourself as your parent's more lucid and rational puppet, with your parent's rational self pulling your strings - you should be just spending the money on his or her behalf, as he or she would have wanted to while still capable. So, if the donor has always bought her godchildren birthday presents, for example, carry on if the donor can still afford to do so. I don't think you'd get away with "the donor would definitely have wanted to give me this Maserati" though!

If you're a private ordinary citizen and not acting in some professional capacity, I dare say any audit would cut you some slack if you've lost the odd receipt; but the better the records you keep the greater your peace of mind will be. If you've made a real hash of it you will be in serious trouble and need professional advice. Worst case scenario, I suppose - any experts out there? - we could be talking about fraud charges.
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Really? That is within the executor's power? What if the executor doesn't like what money was spent on or doesn't like the records presented? What can he/she do about it?
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Yes the executor does have the right to know. But who's the executor? Depending on his/her attitude and how well you can communicate, you may find the executor a source of advice as to how you can go about getting full records together and what information exactly is required.

Also, how did the POA get drawn up? - Because all of this ought to have been properly explained to you before you agreed to act. But it's no good telling you "I wouldn't start from here" - get as much as you can together now. It's good that you used cards because at least there'll be a record of every transaction stored by the companies. Good luck, get advice and don't panic xxx
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I am Power of Attorney and executor, but I keep receipts and bank statements. If I were more organized (I suffer from chronic migraines), I'd be doing a better job. Social Security can question the expenses as well. I don't understand why you wouldn't have had some sort of recording system for expenses. My brother is a douche, and Mom split her estate 60/40 (before her Alzheimer's got bad -- now I'm the devil). And my brother who lives locally, hasn't seen her in 7 months. When he finds out that I'm getting more $$ than he is, he will DEFINITELY cause problems for me. He thrives on that.

If you have credit cards that are online, print them out & make notations while you still remember. Anything you have records of will only serve to help you. People turn really nasty when money is involved. Sad, but true.
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Start printing out all your bank statements and credit card statements. You may want to get a lawyer, its sounds like trouble is brewing.
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You need legal papers drawn up.
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I am considering becoming the sole care giver for my mom who has dementia and is rapidly advancing. Right now she is with my brother who has power of attorney, but he wants to turn it all over to because it's become to much for him to deal with. He lives in one state and I in another how difficult would it be for him to turn over everything to me, and for me to obtain gaurdianship.
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Thanks all for the responses. Mostly I used a credit card for all expenses. I know I should get bank statements from my account. Do I need to get all the charge cards statements? I didn't save them.
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Yes they can...If you wrote checks from his checking account just get copies of the statements from the bank.At least it's a start!
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An interesting point and more importantly, a lesson for all POAs out there. YES, you can be asked to account for every penny. While POA I kept receipts and attached them to a memorandum any time I reimbursed myself for expenditures. I would do that every 4-6 weeks and every penny that was given to me was accounted for.

Here is an excerpt from the Colorado Barr Assoc website: Can the principal or a court hold me liable for my actions as agent?
As an agent, you are managing the assets and finances of the principal, and are under review at any time. As stated earlier, maintaining supporting documentation and records of all transactions is important in the event the individuals list below petition the court to review your conduct as an agent:
1. The principal and you as agent
2. A guardian or conservator
3. Someone authorized to make healthcare decisions for the principal
4. The principal’s spouse, parent or descendant
5. An heir of the principal
6. A beneficiary of the principal or of a trust created by the principal
7. A governmental agency with regulatory authority to protect the welfare of the principal
8. The principal’s caregiver or another person with demonstrated interest in the welfare of the Principal
9. A person asked to accept the power of attorney

Can the principal or a court hold me liable for my actions as agent?
An agent is a “fiduciary,” which means the agent must act with the highest degree of good faith on behalf of the principal, and the agent can be held liable in court for breach of fiduciary duty. As agent, you must follow the lawful instructions given by the principal. If the principal’s wishes are not specific, you should do what is in the best interests of the principal. As agent, you must act in accordance with the principal’s best interests, not your interests.
When you are an agent under a Financial Power of Attorney, the law holds you to the “prudent person rule,” which means that you must exercise “due care” and manage the principal’s funds not as if they were your funds, but with the care needed for managing the funds of another. As agent, you should avoid specula¬tive investments, even if you would be willing to take more risk with your personal funds. If an agent fails to act in accordance with these standards, or in the principal’s best interests, the agent can be held liable for his or her actions.
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