If I have durable power of attorney/advance Will directive for my parent, do I still need to provide an accounting of any and all transactions?
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If I have durable power of attorney/advance Will directive for my parent, do I still need to provide an accounting of any and all transactions?
Siblings were recently denied conservatorship in court. We had a joint checking before the power of attorney and have not given the siblings any copies of the legal documents at the parent’s request. My parent is currently, mentally incapable and living in assisted living. The only thing available is the monthly check and not enough to cover the living expenses. I pay the difference from my own pocket.
Asked on August 15, 2014 under Estate Planning, California
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 10 years ago | Contributor
If your siblings believe that you are mismanaging the funds of your parent then they can ask the court to compel an accounting. Given what you have said here, I would keep very good records of every transaction with this bunch because when it comes time to probate the estate they are going to want to know EVERYTHING. Good luck. Your parents are lucky to have you.
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