Financial POA

Sometimes even a legally prepared power of attorney (POA) document is refused by the bank. Know why financial institutions hesitate to grant POAs access to accounts and how to remedy this situation.

When an aging loved one names you as their financial power of attorney (POA), you become responsible for two sets of finances: theirs and your own. Use these five pointers to simplify your job as POA for finances.

Would you know what to do if you suddenly had to take over managing money and paying bills for your parent? Here are 10 things you need to know before assuming this responsibility.

In order to make most decisions on an aging loved one's behalf, you must be given the legal power to do so. A durable power of attorney is a document your relative executes that gives you specific legal powers to act on his or her behalf.

Adding this one simple step when creating or changing a will, powers of attorney and other crucial legal documents can prevent unnecessary stress, legal problems and familial discord down the road.

Power of attorney documents allow caregivers to access personal information and make vital decisions for elderly loved ones, but some institutions require additional forms. See what other authorizations you may need to get.

Whether you’ve been named as someone else’s power of attorney (POA) or you’re looking to appoint one for yourself, know what rights, responsibilities and limitations come with this legal designation.

An estate plan that will safeguard a senior’s health and finances consists of a will, advance directives and powers of attorney. Familiarize yourself with these basic legal documents before estate planning begins.

It’s easy to purchase an affordable power of attorney form online, but this option comes with some risks. An elder law attorney can explain how this tool works, help you avoid pitfalls and customize POA documents to meet your unique needs.

Many adult children are unaware of their parents’ financial situation until they step in to help manage money or begin the probate process. If you find that a parent has racked up some debt, it’s normal to wonder if you may be on the hook for repayment.

Many family caregivers are granted the power to manage an aging loved one’s finances, and this often includes handling an elder’s investment decisions. While this can be a daunting task, these pointers can help guide you.

Planning ahead for your elderly parent's long-term care can save the rest of the family both emotional and financial distress. Help your parents avoid financial pitfalls with these 3 financial strategies for planning future care.

Essential legal documents for estate planning and long-term care planning often need to be notarized to prove they’re valid. However, notarization can be tricky if a senior has Alzheimer’s disease or another form of dementia.

Speaking with your parents about their financial future isn’t an easy thing to do. However, a bit of planning and candid conversation will prevent unnecessary complications if someone needs to step in to manage their affairs.

Data breaches are increasingly common, and it’s likely that your sensitive information has already been exposed at some point. Be proactive and thwart identity thieves by freezing your credit.

Power of attorney forms are widely available online, but these forms aren’t meant to be one-size-fits-all. There are a few key points to consider before deciding against working with an elder law attorney to draw up a customized POA document.

Many adult children are faced with the prospect of selling their parents’ homes to pay for their care. This may make sense financially but can be legally complex. Here’s what a caregiver should know before trying to sell their aging parent's home.

We retain health records, financial statements and tax documents just in case we need them, but this can be overwhelming for caregivers who store their loved ones’ files, too. Use these tips to organize what you should keep and purge what you shouldn’t.

When the “principal” (the person who signs a power of attorney document) dies, the POA terminates. A different type of legal authority then becomes necessary to gain access to the deceased’s assets and bank accounts.

Your primary responsibility is to make sure your relative’s needs are being met. This includes physical needs, health needs, safety and security, and emotional needs, any of which may involve spending money.