Using PoA to open a bank account

[redheadedmama]

What is the name of your state (only U.S. law)? California

My mother who has dementia and Alzheimer's and with whom I have a durable PoA, is constantly getting angry at me and accusing me of theft. She then goes and closes her bank account, opens a new one in her name only, gets confused and then starts crying and begs me to add my name to the account and straighten up the mess. This has happened (no exaggeration) 10 times in the last 8 months.

My question is...ethics aside (because I know I will only use the money for her), I have a $99K cashiers check from her most recent snit. Should I open an account in MY name only so she can't do this again?

 

[HomeGuru]

What is the name of your state (only U.S. law)? California

My mother who has dementia and Alzheimer's and with whom I have a durable PoA, is constantly getting angry at me and accusing me of theft. She then goes and closes her bank account, opens a new one in her name only, gets confused and then starts crying and begs me to add my name to the account and straighten up the mess. This has happened (no exaggeration) 10 times in the last 8 months.

My question is...ethics aside (because I know I will only use the money for her), I have a $99K cashiers check from her most recent snit. Should I open an account in MY name only so she can't do this again?

**A: no, you open a trust account in her name with you as authorized trustee. Or something similar.

 

[FlyingRon]

A POA is NOT a guardianship. Dementia or not it doesn't give you any authority to act counter to her wishes. Nobody is forced to accept a power of attorney, by the way, it merely authorizes you to act.

 

[tranquility]

I agree with the other posters and add, mom may need to be conserved. While business can get done now because of the POA, mom seems to be making bad decisions and it might be better to have a check on her actions and decisions.

 

[redheadedmama]

thanks guys

I had applied for a Public Guardian AGES and AGES ago...they finally called today and are setting up interviews with my mom, myself and other family members. I had about given up and that's why I was wondering about changing the bank account.

BTW: I just redeposited the money back into the original account. Let the P.G. deal with it. I'll just deal with the emotional stuff.

Thanks again.