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My dad, 85, was diagnosed with Alzheimer's a year ago. He's gotten to the point where he cannot make financial decisions. His neurologist and primary care physician have each given me a letter stating that he can no longer make financial or medical decisions. He does have a durable POA.
We recently had his driving evaluated and he had to surrender his license. I removed his cars from his property, sold them, and put the money in his trust.
He has a lady friend that has been taking advantage of him financial for the last three years. She has convinced him that he doesn't have Alzheimer's and is trying to turn my dad against me and my siblings.
I visited his bank with the POA and the letters from the doctors. The bank said that they cannot stop him from cashing in his CDs and that I needed a court order in order to remove his signing privileges on his accounts.
I checked into the process of getting guardianship and it seems like that would be a traumatic process for him to go through.
His lady friend has convinced him to cash in one of his CDs to buy a new car and that she will be his chauffeur.
I'm trying to figure out the best way to safe guard his finances while causing the least amount of stress on him. My siblings and I agree that he should no longer live alone and that he needs to move in with me. How can I "force" him to move in with me?

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If you have a durable power of attorney and if his doctor deems him incapable of making financial, or other decisions for himself, the bank should not be able to deny your request. You need to talk with an elder law attorney.
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Reply to Doubletrouble65
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I agree with the "move money to another bank" -- you can do that as POA.
Some banks allow you to set up a view only account. This is what I did for one of my MIL's banks as her Alzheimer's started progressing but she still wanted to know $$ details -- she can log in online and see everything but can't make any changes to it. This view only access could also be useful in some family situations where you want everything to be transparent but only have one set of hands on the wheel.
I also set up a spreadsheet that summarizes assets/debts and can be updated monthly to help illustrate what is held where and how much is in each account without displaying actual account numbers or "keys".
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Reply to DaughterByLaw
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Move the money to a different bank!
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Reply to Sadinroanokeva
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Since you have financial POA, move all his money out of his accounts into new accounts - that you can oversee. Give him gift card type "credit card" and "debit card" to use. Have a separate talk with his lady friend. Explain that he has Alzheimer's disease and you are his POA for financial and medical decisions. Remind her that she will not be getting more money from your father while you help him with these matters. Remind her that if she pushes your father to giver her money, you will press charges for elder abuse for fraud.
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Reply to Taarna
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"His neurologist and primary care physician have each given me a letter stating that he can no longer make financial or medical decisions. He does have a durable POA."

"I visited his bank with the POA and the letters from the doctors. "

I've never heard of such onerous requirements. Have you read the DPoA doc to see what authority it actually gives you (assuming you are the DPoA)?

Maybe consider hiring an attorney to write a letter to the ladyfriend, telling her that what she's doing is looking more like financial abuse of an elder. You will need to have evidence.

Rather than removing his signing privileges, why not use the DPoA paperwork to add yourself to the account? Then you can hopefully move funds to his savings account, if he has one.

Are the CDs originating from this same bank? If not, call that investment company and see how to submit the PoA paperwork.

It will be worth consulting with a certified elder law attorney since this grifter ladyfriend may know that she has to move fast to squeeze as much money out of him as possible.
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Reply to Geaton777
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MommaOf6: Retain an attorney.
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Reply to Llamalover47
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For your Durable POA to go into effect, you usually need letters from two of your father's doctors verifying that he is incompentant to make his own financial decisions. That is when a Durable POA should become usable.
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Reply to RedVanAnnie
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You tell the bank that he has a woman friend that is taking advantage of him. Its a fraud. As his banking institution, they should be protecting him. As POA, you have the power to close his accounts and move his money to another bank. He is incompetent to make informed decisions.
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Reply to JoAnn29
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Yes, your POA pays for you to seek expert advice.

Go to an Elder Law attorney with your letters. He will assist you according to the laws of your state in making letters testamentary that you are now acting for all executive functions including banking for the protection of your elder. He/she will advise you on how to become SIGNEE for ALL banking and you will need to contact EACH institution with your documents. It's gonna be a busy year; I went through it. Banks are the toughest. You should consider becoming representative payee for SS also.

Attorney will also instruct as to how to keep files and to do meticulous documentation of every penny into and out of account. Wish I could show you my file box. My bro passed almost five years and I still have to hold on to that thing, hee hee.

Good luck.
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Reply to AlvaDeer
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For the financial side of things, do what you can to move his funds into a different account using online banking. I think that you might need to have him declared incompetent in order to get true control of his finances, though. But you can do other things to pump the breaks on this “relationship” including blocking her number on his phone, keeping him busy and occupied with other things, just putting space between them as long as possible. It’s despicable what people do to take advantage of vulnerable people.
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Reply to ShirleyDot
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