Follow
Share

As her POA, I have managed my 92-year-old mother's business for the past 2 years. She had placed me as joint owner of her bank account and had a will and POA in place. I placed her in a memory care unit of an AL 2 years ago.


My brother and only remaining sibling just passed unexpectedly. Should something happen to me, what can I do now to insure management of her care continues?

This question has been closed for answers. Ask a New Question.

3 Answers

Most
Helpful Newest
First Oldest
First
I guess I should have been more specific about my question. I have nieces. I just would not trust their judgment to hand them my mom's bank account. I do have a trusted friend who has said she would be "that" for me. She was my mom's friend first before I knew her; and she loves my mom. She has been a business woman/entrepreneur all her adult life. So, yes she would be named as executor of my own will.
But I don't know how I could pass along the ability to step in and manage mom's business (pay her monthly care, etc.) as I am doing as POA.
I'm sure, as suggested, it should be done by consulting an attorney. I hesitate because of expecting exhorbitant fees. Four years ago I was told it would be $360 just for a consult! Imagine the cost of the finished product!
Thanks for your responses.
Helpful Answer (0)
Report
freqflyer avatar
F
freqflyer Sep 2021
Yes, attorneys can be expensive. Both my sig-other and I have on our POA/Trusts that if anything happens to us that the law firm assigns someone to manage the estate if either of us are unable to do so. It is not always the attorney who is hands-on with the estate, it can be accomplished by a para-legal or another employee assigns to such matters.
(0)
Report
Spend an hour with an attorney and work this out.

You don't have to be a family member to have POA. It just usually works out like that.

A close friend? A close neighbor? It's unusual (though not impossible) to be totally w/o friends or family. I often think of my MIL who truly has NO friends. She has alienated everybody she ever knew. Doesn't speak to her 2 sons (one of which is my DH). She does have a daughter and luckily, they are on excellent terms. But, if she didnt' have this daughter, she would be in the same position as your mom.
Helpful Answer (1)
Report
AlvaDeer avatar
A
AlvaDeer Sep 2021
I sure agree with you that it doesn't have to be a family member. However, having done POA and Trustee, taxes and bill paying and etc. I surely don't know what friend of neighbor would want to take this on. It's a lot under normal circumstances.
It certainly is worth a try.
(0)
Report
Are there any other family members? Do you have children? Does your brother have children? Is there other more distant family if not? If there is other family sit down with them and discuss what you do, how you manage for your mother. At the point then of your death or your disability the other family member would have to apply for guardianship of your mother, and would continue on in your place. If there is no other family member a lawyer can take this on, and you should see an Elder Law Attorney to discuss. In some instances banks will take on Fiduciary work. In the case that there is no family and no arrangement the ALF would quickly contact social workers who would arrange guardianship by/through the courts with court appointed fiduciaries.
Helpful Answer (0)
Report
This question has been closed for answers. Ask a New Question.

Recent Questions


Popular Questions


Related Questions

Ask a Question
Subscribe to
Our Newsletter