POAs when is an abuse?

Answered by:

Question:

Should an attorney-in-fact be taking cash out of his mother’s account and putting it in his or hers?

Answer:

Generally an attorney-in-fact or agent can do what the document says he or she can. It crosses over to a problem with an agent is acting on his or her own behalf and not on behalf of the owner. Very rarely is cash a good idea for recordkeeping purposes and especially putting it in the agent’s account.

--------------------------

Learn more about Deborah Crawford’s Preventing Elder Financial Abuse webinar.