No, not legally. But it's a nice courtesy to keep the suspicions down that you are trying something fishy. A simple financial summary emailed each month will often keep things happier
I think much more info is needed to really answer. Are you actively the POA? I was POA on paper, for my mother long before it was put into use. She was competent for years before I needed to step in. Is there a privacy issue? Did you parent ask you to keep information to yourself rather than sharing it? As the POA your "rights" are the same for that info as they are for your own-you are not obligated to share it with anyone. However, I would encourage as much openness as possible as it may head off feelings of resentment and mistrust. Of course, I do not know the particulars of your family dynamic. But in general, I have found transparency to be the best policy when handling the financial and health care decisions for someone that is loved by others. Best of luck to you Margaret
No for legally, you are the only other person with legal access to that information. Are your siblings demanding this from you and threatening you with legal action if you don't?
3 Answers
Helpful Newest
First Oldest
First
Are you actively the POA? I was POA on paper, for my mother long before it was put into use. She was competent for years before I needed to step in.
Is there a privacy issue? Did you parent ask you to keep information to yourself rather than sharing it?
As the POA your "rights" are the same for that info as they are for your own-you are not obligated to share it with anyone. However, I would encourage as much openness as possible as it may head off feelings of resentment and mistrust. Of course, I do not know the particulars of your family dynamic. But in general, I have found transparency to be the best policy when handling the financial and health care decisions for someone that is loved by others.
Best of luck to you
Margaret
ADVERTISEMENT