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Poa for financial decisions12/5/2023 ![]() ![]() They can sign checks and move money around as needed, for example. The agent acting as power of attorney can make financial decisions. In essence, the power of attorney can be granted the right and task of making decisions for elderly parents. When a parent agrees to grant a power of attorney, they can also make decisions about what kind of authority they want to grant. ![]() What Rights Does the Principal Have With a Power of Attorney for Older Parents? In-home elder care solutions in Charlottesville, Richmond, Williamsburg, VA and Charleston, SC. It can be hard to know what to do when an elderly parent is mentally incompetent, but a power of attorney can help make the situation easier to navigate. The parent granting the power of attorney is considered the principal. If you are granted the power of attorney from a parent, then you are considered the agent. Depending on the type of power of attorney, those decisions might be legal, financial, or medical.Īs parents age and need more help, many children opt to get a power of attorney for aging parents to help them in making decisions. If you feel like it might be time to protect your parents and make sure you have the legal right to make decisions on their behalf, read on to learn all about becoming a power of attorney for elderly parents.Ī power of attorney gives one person the legal power to make decisions on behalf of another person. You are finding yourself in a position where you need to help your parents with some of the same decisions they once guided you on.ĭo you need to get a power of attorney (POA) for an elderly parent? Are you starting to see signs that your aging parents need more help and support? Are you wondering how to get power of attorney for a parent with dementia? ![]()
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