If my father appointed me power of attorney over his affairs, do I have to report to the family about his personal financial business?

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If my father appointed me power of attorney over his affairs, do I have to report to the family about his personal financial business?

My appointed me POA over his affairs and my sister wants to know about his bills and money in the bank. But she never wants to know how he is eating, who is cleaning his house, who takes him to the doctor, etc. He had a stroke; all of the left side of his brain his damaged and he has Alzheimer’s disease. His bills are paid each month directly from the bank and they are still not satisfied.

Asked on September 1, 2011 under Estate Planning, Louisiana

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

If your father signed a valid "power of attorney" as to himself where you are his "attorney in fact" and assuming your father is not in a conservatorship through a court order, you have no legal obligation to your sister to advise her as to your father's financial affairs. Your obligations are to your father only making sure that his financial affairs are being taken care of and most importantly, he is being taken care of physically and mentally.

You have no obligation to report to the family about your father's personal financial affairs as his "attorney in fact". If you want to that is fine.

You should sit down with your sister and make it quite clear your concerns with her over your father's finances versus his physical well being.

Good luck.


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