hellbender
Recycles dryer sheets
- Joined
- Jul 14, 2006
- Messages
- 153
I want to establish an account for my father, as his agent. He has Alzheimer's. Penfed insists that I get my father (in front of a notary) to sign a document indemnifying Penfed against loss. My father no longer has the capacity to understand such a document and cannot therefore legally contract to do anything. My understanding is that the primary purpose of the POA is to allow me to act as his fiduciary in the event of mental incapacity. Am I right in thinking that this is an absurd requirement? Should I just move on? What good is a POA if I can't invest on my father's behalf?