My mom appointed me as her DPOA. However her bank will not honor her will. What can I do so that I can pay her bills with her check acct?

Follow
Share
11

Answers

Show:
I had the same problem with my dad's banks. Only one of three would honor the POA and the other 2 sent me home with additional forms. I have not asked dad to fill them out, as I know he wouldn't (He doesn't know I exercised POA on the one bank - did it only for emergencies)
Helpful Answer (0)
Reply to Babs75
Report

Dottie, when Medicaid gets involved any accounts with Moms name are considered hers. A lawyer recommended I take her name off my nephews account because of this. With a POA I understand that you don't need your name on the account. POA gives you the authority to sign her checks. And when you do...make sure POA is behind your name on checks and any legal papers you sign for Mom.

A Will doesn't come into effect until Moms death. The POA will stop and the Executor will take over.
Helpful Answer (0)
Reply to JoAnn29
Report
dottiehill100 Jul 19, 2018
Tthanks Joann for the feedback. Everything was helpful.
(0)
Report
Dottie, thanks for the clarification. I'm wondering though why a bank needs to be involved in a will at all, unless it has some executive capacity. Or is the issue that it won't cooperate in creating accounts to carry out the terms of the will (which isn't in effect now anyway)?

I don't believe that your mother's income will be reflected as yours as well. Based on experiences and advice of our bank, the individual whose name is first on the account is the one to whom interest income or other income is attributed for tax purposes.

I raised this issue specifically b/c I wanted any interest attributed to me, as my income was much lower than Dad's and I rarely had to file federal tax returns.
Helpful Answer (0)
Reply to GardenArtist
Report

Thanks to all who answered. I did find out her bank requires their own notorized form for POA. Also, im sorry for the confusion as to the word "will". I actually did mean the "document will". Thanks again. FYI ....if i add my name to my moms accts , her income will reflect on my financial status as "my" income also. Also found out not s good idea for childrens names to be added to money accts as this works both ways and could be harmful if there wss ever a lawsuit to either party as this now becomes joint money. P.S. Thank God my mom is still living and just needs some assistance with writing out her bills.
Helpful Answer (0)
Reply to dottiehill100
Report

Thanks to all who answered. I did find out her bank requires their own notorized form for POA. Also, im sorry for the confusion as to the word "will". I actually did mean the "document will". Thanks again.
Helpful Answer (1)
Reply to dottiehill100
Report

GA, I had the same thought as you did, that the mom had passed away.
Helpful Answer (1)
Reply to BarbBrooklyn
Report

Wally, thanks for that insight. I didn't even think of "will" being used as an alternative for desire, intent, etc.

Hopefully the OP will return and clarify. So often we never hear from people after we answer.
Helpful Answer (2)
Reply to GardenArtist
Report

I thought she meant ‘will’. As in, I have the will to resist a cookie. Idk
Helpful Answer (2)
Reply to wally003
Report

Dottie, the Will has nothing to do with a DPOA document. Are you trying to get the bank to accept your mother's will or a DPOA?

You don't mention dementia in your profile, so I'm assuming it's not an issue. Is your mother mobile enough that you can take her to the bank and open a joint checking account? This would circumvent the DPOA issue.
Helpful Answer (1)
Reply to GardenArtist
Report

I took my mom to her bank with the POA. We then we had to fill out forms from the bank had them notarized.
Helpful Answer (4)
Reply to LisaNJ
Report