How to handle POA and being assigned as trustee of a trust?
Does anyone recommend any particular manuals. I am very new to this, with my brother, mid-80s, having been diagnosed, after a bad car accident, with a brain tumor. He has assigned me as the Trustee of his Revocable Living Trust so that I can pay his bills and take over financial management but I feel a babe in the woods, and know almost nothing. He has some cash in Pay on Death Accounts and some cash in CDs that are in his trust. I will have to open an account specifically for payment of his bills and all other financial care. He will be moving into assisted living, and almost certainly need to move on to memory care or hospice at some point, dependent on whether this is a growing tumor or one suspected of being long standing. Would you start with getting a book? Or with booking the time of an Elder Care Attorney?
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Also, search this website for articles (and maybe postings) about Revocable Living Trust and POAs and for a list of Elder Care Attorneys in the same state as where the trust was written. Also Google Revocable Living Trust for the state that the trust is in.
Do you know the attorney is that wrote your brother's trust? Is there a reason why you cannot talk to him/her about the trust?
Are you also in your 80's? Are you in good health? Does the trust name a Secondary Trustee in case you get sick or injured?
For both your sakes, contact an elder care attorney for advice. Take any documents with you.
Between now and when you do meet the attorney, educate yourself on living trusts (they're not hard). There are many sites online that explain trusts. The book that launched me into being sold on trusts was "Make Your Own Living Trust" by Denis Clifford. It's simply written and very easy to understand. Your library may have it, or something similar.
Ask your brother and the attorney about getting General Durable Power of Attorney for his finances and for medical. This way you have everything you need to manage all your brother's business. You won't be able to talk with medical places without the medical POA.
Best wishes to you both.