I would see an elder law attorney to make a POA with your Aunt. You need also to fully understand your fiduciary duty and legal ramifications of serving as POA and how to keep meticulous records if you are going to be handling accounts.
Many think that pulling a POA form off the internet and having it witnessed is enough. But most banks will not recognize such a form due to the fact that a notary is attesting only to a signature, not to full understanding of a document that gives such wide powers to another.
If visiting a lawyer is too expensive or physically difficult for your Aunt, you have the option to download the PoA paperwork that is specific for her home state from sites like Legalzoom.com or Rocketlawyer.com. I did this with my Mom and it is as solid as any other PoA from an attorney. Those sites have lawyers on staff who know your Aunt's home state laws and requirements so if you have questions you can get them easily answered. Make sure you do 2 original copies: 1 for her and 1 for you.
Also encourage her to create a Living Will (aka Advance Healthcare Directive) and a Last Will for her estate. Also consider consulting with an estate planner or Medicaid Planner for her state since many seniors wind up needing this federal financial aid program that pays for LTC.
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Many think that pulling a POA form off the internet and having it witnessed is enough. But most banks will not recognize such a form due to the fact that a notary is attesting only to a signature, not to full understanding of a document that gives such wide powers to another.
See an attorney. Your Aunt's funds pay for this.
Also encourage her to create a Living Will (aka Advance Healthcare Directive) and a Last Will for her estate. Also consider consulting with an estate planner or Medicaid Planner for her state since many seniors wind up needing this federal financial aid program that pays for LTC.
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