SecondCor521
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Hi all,
Father has durable POA in place naming Mother as agent and oldest child as "successor agent" if Mother can't/doesn't want to serve. Likewise, Mother has durable POA in place naming Father as agent and oldest child as "successor agent" if Father can't/doesn't want to serve.
Oldest child lives on the other side of the country and has her own busy life to attend to. Youngest child lives five miles from Father and Mother and has a busy life also but is FIRE'd.
Father and Mother are both early stage dementia and are still capable of handling their financial affairs but may soon not be. Father wants youngest child to handle financial affairs when the time comes. Mother is agreeable to this plan but doesn't want to "hassle with a lawyer" to update the existing POA or put a second POA into place.
Question: Can oldest child somehow extend or transfer POA to youngest child? In other words, can oldest child use her position and authority as POA to grant POA to youngest child? Is POA transitive?
(I am youngest child.)
Father has durable POA in place naming Mother as agent and oldest child as "successor agent" if Mother can't/doesn't want to serve. Likewise, Mother has durable POA in place naming Father as agent and oldest child as "successor agent" if Father can't/doesn't want to serve.
Oldest child lives on the other side of the country and has her own busy life to attend to. Youngest child lives five miles from Father and Mother and has a busy life also but is FIRE'd.
Father and Mother are both early stage dementia and are still capable of handling their financial affairs but may soon not be. Father wants youngest child to handle financial affairs when the time comes. Mother is agreeable to this plan but doesn't want to "hassle with a lawyer" to update the existing POA or put a second POA into place.
Question: Can oldest child somehow extend or transfer POA to youngest child? In other words, can oldest child use her position and authority as POA to grant POA to youngest child? Is POA transitive?
(I am youngest child.)