Both my parents live with my husband, and I and 3 children. My dad is still very sharp at the age of 75 works part time and is in good health. My Mom has always been in good health too, but the past 6 months or so we have been noticing her Thought process not being as it used to be, She is forgetting people in her past, forgetting things she has done all her life, etc. We are in the process of obtaining a DX for her. Having some tests done next week. My concern is My mom has always handled all the financial stuff and my Dad has never had to deal with it. I think she is OK for now, but I am little concerned about what is going to happen if her condition worsens. Also would like to have a paper saying that all doctor's and such can talk with me. She gives them permission but if her mental state continues to change that may not be as easy to get from her. Just not sure what I should do? Power of Attorney? Don't know that I need that, my Dad is still very capable but just not used to doing some of these things. Any opinions would be greatly appreciated.
However, your BIL's durable POA will cease upon your MIL's death. Who is the executor of your MIL's estate? Whoever it is will be dealing with the financial and property matters after your MIL's death. Does someone know where her will is or does she have one? My mother could not remember where her's was and it took me forever to find it, but I did.
BTW, paying her bills is a lot of what a durable POA does and often a bank likes to know who the durable POA is. Are you on your MIL's accounts as co owner with right of survivor ship? Many people with a durable POA are not and can only deal with money matters because they are. I'm my mother's durable POA and about 10 years ago she made me co owner of all her accounts with right of survivorship. However, when ever monthly long term care check comes in each month, I have to sign it for deposit as her POA. When I sign her tax returns done by the CPA, I sign as her POA with a special ID number from the IRS. BTW, who does your MIL's tax returns and signs them?
I have pOA that allows me to sign on my moms behalf. ( she has glaucoma), allows me to speak on her behalf. I also have a durable power of attorney and healthcare power of attorney. Each time my mm was admitted to hospital the staff asked who is the Poa for my mom. I carry these papers in my car. I am the only daughter that takes care of her also. I cant really say i make all the decisions, i do accept the drs expertise as well. For them, they have some family member that can legally talk to for information, due to the privacy rules. This was drawn up
by an attorney. You should ask what you need if the need arises for hospital care or NH etc. so that you will have a peace of mind. Hope this explanation was helpful.