My mother was recently diagnosed with dementia, she will be appointed a guardian. She has some of her money in CDs which include also her children names. She also has a bank deposit box where she keeps important documents and stock certificates. I would like to know what can POA access to and change to her accounts, can POA change names on CD or withdrawal as cash and can he access to bank deposit box? Second question goes the same for guardian, and how to protect someone deposit box where nobody really knows whats inside.
1 Answer from Attorneys
The POA has the power granted to him under the power of attorney document. It may or may not give him access to the bank account. The POA is supposed to act in the best interest of the person for whom he is acting that may mean he could change names on the accounts if it is in your's mother's best interest.
If a guardian is appointed he or she will have to inventory all of your mother's assets including the assets in her box. If you think the inventory is not complete exceptions can be filed. The guardian is supervised the court and needs to get court permission to act.
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