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Old 04-24-2016, 05:57 AM   #21
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Originally Posted by Slow But Steady View Post
Thanks for the input, everyone.

I'm trying to convince her that this is not worth getting a stomach ache over, but she is still quite upset with Fidelity. Maybe after a few weeks pass, she will be able to let it go. I hope so.
Emotions often overrule logic. But if she is indeed upset with Fidelity, then what better way to exact revenge than by pulling out all of the money? If that idea causes her emotional stress, then clearly the easiest and simplest (and non-stressful) solution is adding you to the account.

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Old 04-24-2016, 06:04 AM   #22
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This was an eye opening thread. The references to funds getting locked up does confirm the wisdom of having at least two accounts so you don't get slammed to a halt in an emergency. On the original topic I am of mixed minds. Like rodi, it is good that these outfits make efforts to ensure that their aging customers don't get caught up in elder abuse or simple negligence when they become demented. But it does seem like there should be a clear process in place to prevent capricious behavior. One or two miscommunications don't seem sufficient to lock up accounts.

Every man is, or hopes to be, an Idler. -- Samuel Johnson
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Old 04-24-2016, 06:16 AM   #23
Thinks s/he gets paid by the post
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Just wanted to thank writers here for bringing up this topic, this might save my mom some hassle down the road.

I'm going to bring it up with my mother so she can arrange a POA for my grandmother. She is only child so best to get it in place, probably in the way Rodi described (physical possession still with grandma, but already written so it's there when needed).

In fact, I'll probably do the same for myself since I have no dependents or heirs.
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Old 04-24-2016, 06:59 AM   #24
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I have had a POA for my Mom (and my Dad before he died) for years. It just sits in a file drawer in the house.... I've never had to use it and hope not to have to use it for some time to come.
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Old 04-24-2016, 02:34 PM   #25
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Originally Posted by rodi View Post
Ok - I'm approaching this from a different POV than most folks here. Not only is Fidelity covering their butts - they might have your parents fiduciary interest in mind. Dementia has a wide range... and unfortunately, we'll all likely be there some day. That's why it's so important to have POAs and other docs in place LONG before you need them.
Thanks for your perspective. I am hoping she'll agree to add someone else to all the accounts. But if she decides not to, I will do my best to get the POAs in place for when we need them.

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