My husband is financial POA for my parents for last few years. Dad is very late stage dementia and hospice has been called in. At this stage, Dad can’t change his mind. My aunt and sister and co “personal representatives” in the will. I don’t see the word executor anywhere so assuming it’s the same thing. My question is … after they both pass, what are literal next steps? Will husband need to provide account statements and logins and such to the personal representatives or a judge somewhere? The estate won’t be much - but my family is dysfunctional and I feel like knowing exactly what to expect will help us know how to plan / what to prepare. They are in memory care (dad) and assisted living (mom). Bills of the estate will include whatever final rent invoice comes from the assisted living place / that month’s credit card charges and perhaps their income taxes. There is no real property. I googled what amount requires probate in South Carolina and read $250k. Depending on how long mom lives, that could be right around the amount left. I know “see a lawyer” is the true answer, but looking for anecdotal stories of what my aging care friends have been through.
If I didn't have to open an account I think I still would have had to apply as a Formal Administrator.
Your relatives who are the Executors should really hire an attorney to guide them in those duties as there is much to navigate properly, even for a humble estate. This fee can be paid out of the estate, not from them personally. Also my attorney told me I don't have to pay any of my Aunt's medical bills from her recent 2 trips to the ER. All funeral expenses can be paid out of the estate funds.
Generally speaking, there are two types of “personal representative”: an executor that is appointed by a will, and an administrator if a person passes without a will (also known as passing away “intestate”). As another member pointed out, POAs end when the principal (in this case your father) passes away.
You and your husband should definitely consult with an elder law/estate attorney if you’re concerned. While two people can be appointed as co-executors, this can sometimes make things tricky—what if they disagree with each other? What if they both need to sign for something and the other refuses? I would ask the attorney questions like the following: How should your husband organize the records for his time as POA? What are his/your responsibilities when the executors/representatives take over? What can you both do to ensure the smoothest transition and to try to prevent any conflict between you and the executors?
If your parents were in a guardianship or a conservatorship, then the answer is usually that the guardian/conservator owes a final accounting or financial report to the court before the estate is passed on to the executor(s). But POA laws and traditions can vary widely.
My other concern would be if your aunt/sister might have unrealistic expectations about the estate. Family members who are new to estate administration sometimes misunderstand the POA’s role. My worry is that your aunt and sister may expect your husband to continue handling finances after death, not realizing that at that point, everything becomes part of the estate, and only the executors have authority.
If I were in your shoes, I’d make sure to 1) know the POA’s responsibilities for records and final acts, 2) know what the executors’ responsibilities are, 3) know what the general estate administration process should look like in SC, and 4) make sure you’ve found a lawyer (in advance) that you like—who could advise you in case the family dynamic heats up or if there are arguments. A lawyer looking over things now might also point out any potential sticking points with the estate plan and if anything needs to be addressed while your father is still alive—and while the POA is still in effect.
I hope this helps provide some clarity. Forums like this are a great resource, and I’m sure others will share their valuable experiences as well (or anything I've missed). Wishing you and your family peace and support during this difficult time.
In a family where things are problematic then your NORMALLY REQUIRED POA documents are all the more important. It is a help when POA is and executor is same person, and definitely a problem when two dissenting people handle these two jobs.
The attorney for the executor can demand POA documents in order to manage the estate and pay bills, etc.
Your MIL should be receiving from hubby who is managing all of her accounts, a monthly statement of her accounts, every penny into them and every penny out, in ANY CASE.
If she is in care this will be easy. You have statements.
If she is in YOUR care you need to do a care contract with an attorney for shared living expenses and her costs.
A POA accounts for money, manages it for the safety of the Principal. If, upon death, the Executors ask for POA documents and files you simply hand over any copies of anything they require. They will be filing final taxes and distributing what estate is left.
As current POA hubby has a right to consult an attorney to see what he should be doing in meticulous record keeping and this is paid for by person/s who conferred POA upon him. If he has legal questions it is important to have them answered by legal experts.
Personal Representative will be responsible to handle all bills that come in after death.
A probate judge can ask for financial records from the POA if someone starts a stink. Hopefully you guys have everything, I would just turn them over if requested, it sucks to have a family war right after the loss of a loved one.