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If you have POA for you parents
Old 07-10-2014, 10:43 AM   #1
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If you have POA for you parents

Something to keep in mind,so you don't get stuck with the bill.
Old Mike
How a parent’s health-care bills could hurt you - Elizabeth O'Brien's Retire Well - MarketWatch

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Old 07-10-2014, 11:02 AM   #2
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Thanks for this--DH is POA for his dad, and I forwarded the article for him to read.

“One day your life will flash before your eyes. Make sure it's worth watching.”
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Old 07-10-2014, 11:25 AM   #3
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Another thanks here. Helpful to me (I'm POA ), I'm also forwarding to my brother and also my kids.
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Old 07-10-2014, 02:39 PM   #4
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DW was warned about this by the elder law attorney we dealt with. She always signed her name and then "as POA".
I heard the call to do nothing. So I answered it.
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Old 07-10-2014, 02:57 PM   #5
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Thanks for the article. I am POA for my dad should he lose his faculties My brother is, too. I'll make sure I forward it to him. My ladyfriend is in the process of obtaining POA for her parents (who are losing their faculties) so I'll make sure she gets this, too.
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

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Old 07-10-2014, 03:26 PM   #6
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I recently went through this for my mother (for whom I am POA). She has dementia and last year she entered a nursing home.

Before signing anything, you should also check to see if your state has a preference on how you sign. For example, I sign everything as "MY NAME, as attorney-in-fact for MOTHER'S NAME".
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Old 07-10-2014, 04:08 PM   #7
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Originally Posted by Walt34 View Post
DW was warned about this by the elder law attorney we dealt with. She always signed her name and then "as POA".
I was POA for my Mom, and would always sign similar to that. When I was signing documents at her bank, and also the hospital prior to her death, both of them said that was a valid way to sign, at least in the state she lived in.
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Old 07-10-2014, 09:35 PM   #8
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Had this exact discussion with the local (Michigan) credit union two days ago. Their advice was essentially identical to one in the article: "The best way to separate your responsibility as power of attorney from any personal financial obligation is to sign your parent’s name as the responsible party on the contract, and after that write, “by [your name] as power of attorney,” followed by the date".

The only difference was that the credit union suggested using the "POA" abbreviation instead of spelling it out, unless I liked writing a lot....
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Old 07-11-2014, 07:14 AM   #9
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Thanks for this; DW has POA for her aunt.

Doing things today that others won't, to do things tomorrow that others can't. Of course I'm referring to workouts, not robbing banks.
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