Agent Revocation of DPOA

[Rhys67]

Maine and Florida. My wife became the Agent for a longtime friend (DPOA) while we were living in Florida in 2015. The bank drew up the DPOA. I am the Successor Agent. We moved to Maine and he came with us. We are no longer able or willing to continue with for various reasons, one of which is that he tried to burn our house down while my wife was sleeping and I was at work. He was diagnosed with Dementia over 6 years ago and it is time for him to enter a facility that can give him the care that he needs. He has one child still living but he has let us know in no uncertain terms that he will not care for him. My wife is on his bank account in FL and one in ME as they are both joint accounts where his SSI and Retirement benefits are deposited. How do we revoke our rights and handle the banks? The bank in FL is saying he must sign a new signature card but I am not sure that he will understand that. We want to make sure that we do this proper and legal way.

 

[Just Blue]

Maine and Florida. My wife became the Agent for a longtime friend (DPOA) while we were living in Florida in 2015. The bank drew up the DPOA. I am the Successor Agent. We moved to Maine and he came with us. We are no longer able or willing to continue with for various reasons, one of which is that he tried to burn our house down while my wife was sleeping and I was at work. He was diagnosed with Dementia over 6 years ago and it is time for him to enter a facility that can give him the care that he needs. He has one child still living but he has let us know in no uncertain terms that he will not care for him. My wife is on his bank account in FL and one in ME as they are both joint accounts where his SSI and Retirement benefits are deposited. How do we revoke our rights and handle the banks? The bank in FL is saying he must sign a new signature card but I am not sure that he will understand that. We want to make sure that we do this proper and legal way.

I think you really should consult with an attorney who specializes in Elder Law.

 

[Rhys67]

I think you really should consult with an attorney who specializes in Elder Law.

I was thinking that we may have to do that just to cover all bases but figured that I would ask here first. It is the bank in FL that is giving us the biggest problem. Thank you for your response.

 

[FlyingRon]

Understand the POA is easy, you just don't use it.
The bank account is a distinct issue (and really was the wrong way to go about it). Being a joint account holder isn't the same as being able to sign on the account.