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Hi...Mom is getting to that point in life where I have to step in. She has a Revocable Living Trust (RLT) from 1994 which was updated in June of 2004 after my dad passed in 2001. The updated RLT ... designates me to be her attorney-in-fact relating to 15 financial matters. The question is: Do I also have to be a designated beneficiary on all her bank accounts? Does it give me power to write checks on her behalf on her from her checking account...or do I need to close the account and open a new one and be JOINT owner of the account? Or does the designation of a POA already dictate that?

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Mike, it can get a bit complex when it comes to how bank accounts should be titled. Usually Mom's name would be on the checks, along with Revocable Trust, and whomever is the Trustee. Check with Mom's attorney to see what is the correct wordage, as I found some banks are just not that familiar with the correct wording.

Make sure all of Mom's checking, savings, money markets mentioned the Trust. Same with any stock Mom should have.

My Dad forgot to place his stock into his Revocable Trust, and when he passed, since the stock wasn't in a Trust, it had to go into Probate. It's been over a year now and Probate is still humming along.
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The designation of a POA authorizes you to write checks on her behalf on her from her checking account. Your name and POA will need to appear on the check.
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