The durable Power of Attorney POA form lets you sign on behalf of your parent. Depending upon the business, you then get access to accounts and can even sign for selling real estate. It is different from the Financial POA.
Here’s a good explanation of what the durable Power of Attorney (POA) can do:
With this form in hand, I was able to
1. Create a single investment account to help pay for Assisted Living
2. Move investments into a single Investment account
3. Close on my mom’s condo and move those funds to that single investment account
4. Be with her for medical and dental appointments during covid and sign necessary papers
5. Sign papers for Assisted Living
She had the foresight before the strokes happened to add me to her checking account and have me as durable POA or her “agent”. These things have been pivital in taking care of her & saving her life.
I thought I was a highly functioning adult before having to use the POA. Thoughts entered: “Am I up to this? Am I doing this right?” Doubt crept in but I fought back and prayed. Along the way, I would check in with my mom and ask if these were the things she wanted. “Yes” was the answer.
So, the form. Here’s the best one I found for $39.99
1. Fill out info online
3. Get a notary (bank, google map search ‘mobile notary’)
4. Signing with you, your parent, and a mobile notary is the easiest. A mobile notary comes right to your house or parent’s house. There is a fee, but it’s worth not having to haul everyone and a rollator or wheelchair to the bank.
How do I sign it? It will depend upon the institution, but here’s an example:
Parent First Name by Your First name Last Name, as her agent
Janey Smith (mom) by Donna Harold (you), as her agent
Another variation: Janey Smith Donna Harold POA
And there you are. You now have the most powerful document you need for this mess called stroke.
Photo modified from vitalanimal.com