I have taken care of my mother's finances since my dad passed away 21 years ago. Only recently I became POA for her finances. I gave up the POA to my sister after we fought. I was told that I have to account for all checks made out to me (they were for her meds and living expenses that I paid for and then got reinbursed for). Do I need to go back 21 years or just as far as when I became financial POA?
By Marie
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You were told that - who told you? Was it your sister? Find out who is actually requiring this and ask them. If it's just your sister, ignore her. She's been enough trouble already.
Whether you have to legally or not depends on the law. It's always a good idea to keep receipts...I have finally learned that in my old age. Certainly I would now that you have Power of Attorney. I think any trustee position would at the least ethically require that.
If family members are concerned, haven't they raised questions all along? Surely your mother's income and basic costs are known. It is not hard to make an estimate of costs in a given area.
I would check with a elder care lawyer to see if this is true. I became POA when my mom was diagnosed with Alzheimers and my brother, who lived with her, died ( (FYI, it is only in effect while the person is alive, once they die, the POA ceases immediately) but it was only for anything that needed to be done as per the originating date of the POA.
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