My 90 year old grandmother had over 6 figures behind her.... today that is $30,000. She is showing signs of forgetfulness, confusion and repeated conversation, aggression.
She is giving her money away in small amounts and up to $10,000!!! To family and friends and they take complete advantage of her. She lives on her own and is confused to where it's going.
My mum and I are her guardians and Power of Attorney on her will, we live hours from her and are trying to get her assessed for care, its is incredibly frustrating, no real help from the GP and I'm afraid she will be left with nothing if we need to put her into care. I feel like our hands are tied until she is completely incapacitated. What advice can u give?
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There is a saying: lead, follow or get out of the way. You and your mother have accepted *responsibility* for protecting your grandmother's best interests. One of you has to get over there and get a grip. If you can't, then resign your POA to whichever statutory body then has the authority to take over.
I realise that this will sound harsh. I'm sorry for that, and I really do understand that the whole process can feel like moving mountains. But it's no good saying she's too distant and it's too hard. When it comes to exercising power of attorney, do it or don't do it but for God's sake don't do it *badly*.
As you seem to have control of her affair my suggestion is that youlimit her acess to her bank account. i won't expect her to take to that nicely but that's the only way you will shoo the vultures away.
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They tried to take her "shopping" with HER cards! I took my mom's cards 3 days before while my one sister and I waited for the inevitable phone call of "Where's her cards?" The call came while they were in checkout. Boy, were they pissed when I told them I had them, HAHHAAHAHA! Yeah, BIG shopping spree they had planned. My sister and I put a screeching halt to it. Then there was the argument of who should have control of her money. Unbelievable how the smell of money changes people's behavior! These were younger family members who forgot they were dealing with grown women who've been walking this earth a lot longer than them. We're not the rooty poots they were used to dealing with. Too funny. Again, the brick wall went up and was solidly impenetrable. Once we cut them out of any planning and discussions all of the drama and arguing STOPPED. We should have never involved them in the first place. As my sister says "If you live you will learn."
Don't let distance keep you and your mom from protecting your grandmother. Be that brick wall she needs to protect her from and thwart the vultures.
You can have your Grandmother's bank accounts flagged.
The bank will place a hold on the account labeled a 9 hold. People will often times see this on their ATM receipts, they look like one has a balance of $999,999.99 and get all excited because they think they have an enormous balance, yet can't get any money from their account.
This hold indicates that the bank has specific reasons that the owner needs to speak with the manager of operations.
Your Grandmother's bank account can be flagged like this so every transaction MUST be reviewed on various ways.
They will also place a special signature card cover that will also give the reason for the hold.
You MUST have a signed Financial POA and provide an original copy to her branch so is on file.
It can state that all transaction MUST be approved by whom ever is the Conservator.
No one will be able to use the ATM card. The bank will call you OR return to whatever financial institution has presented the check to be paid.
What this means: the bank that a family member has an account, will with deposit or cashed based on their relationship.
That bank has trusted the customer so they will accept the check either as a deposit or cashing it.
NOW the check must be processed through a clearing house. This is where the National Reserve comes in and determine if the bank has what is called....due to/due from relationship....meaning that a clearing house is not used, but sent directly between the 2 banks.
With the account flagged for the Conservator to be called and decide if the transaction should be completed or not. YOUR SIGNATURE WILL BE ON THE SIGNATURE CARD for your Grandmother's account.
If the transaction transaction is not a normal bill, but payable to a family member or cash, you can deny it and have it returned as Refer to Maker.
The other bank will receive it back, take the money back from the account used by a family member or whomever even if it causes an over draft on their account....called right of off set.
Maybe the person takes you grandmother to the bank so she can sign the check and get the money directly.
The account will be flagged that you as Conservator must be notified again. When the bank calls, they will or should ask the person for their ID so they can tell you who is accompanying your grandmother.
No, do not cash that check!! Tellers should be trained to watch their elderly customers and always ask the account holder any question about the transaction.
If the person is answering...RED FLAG, ONLY THE ACCOUNT HOLDER SHOULD BE ANSWERING ALL THE QUESTIONS.
People will have the account holder sign a blank check and fill it out themselves.
Just because it is in a Will, it cannot be used until yoyr grandmother is deceased.
I am hoping after APS completes their investigation, I will be appointed as both Guardian/Conservator for my Mom.
I am stated in her Will to do so, but I am hoping to get it before she passes; that way all her bills will come to me to be paid and I can control her money so as to keep my sister from talking Mom into giving her money which I believe is happening now.
You will be required to report ALL MONIES spent from grandma's accounts on a monthly or quarterly basis. You must account for every single penny. Keep all bills in a file that correspond to the account balances and the receipts for her clothing, doctor bills, buying clothes for her.
Grandma basically becomes a minor again. Most definitely if your appointed guardian. She will no longer be able to vote!
Again, stated in the Will is for her passing not for the now.
REMEMBER....every financial company that she has accounts with, MUST have an original Financial POA on file.
It must contain a date if it is just temporary, or a forever and must list everything you are allowed to do.
Have fun!
If you are in the UK, like me. (Although, you did use the dollar sign) You may be able to ask your local council for a Senior Bungalow or a warden controlled place. Ask your local councillor.
Good Luck
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