Unfortunately there are no classes or training offered to tell what duties/responsibilities are required of a power of attorney. I’m at a lost. Accountability is most important as I have non-trusting siblings who are selfish and feel entitled to her money. Any advice or recommendations?
You might discuss with a Fiduciary. His friend had one and charged 90.00 an hour at the time; this was about three years ago. Or you might call Fiduciaries and discuss their fees with them. I would attend a Lawyer to have a contract of payment written. This involves a lot of record keeping, you are correct. JoAnn is correct about the POA documents having to have written in that you will be paid to do this duty; most of them absolutely do have that if they are even minimally well written.
For my Mom she had limited income. Whatever money she had I wanted it going to her care. She had a house that I paid the bills out of her acct for her. I did clean out the house but was able to do that over a period of time. Dealt with the AL once she entered and put her house up for sale. Cashed in her CDs for her care. I didn't have to worry about taxes because Mom didn't bring in enough to file them. But it was not a large estate, so I took nothing. If I had to make sure investments were handled and and there was a lot of work involved I may have thought differently.
Executors are allowed to take a % of an estate. Its 4% to 2% in my state. The bigger the estate the smaller the %. My Mom had 5k in shares and my brothers signed off allowing me to put them in my name. I get get about $250 in dividends ever quartern. So thats my payment for all I did.😊