Legal Question in Elder Law in South Carolina
Duties of Attorney in Fact
As Attorney in Fact for my mother who has dementia, am I obligated to prepare and distribute financial statements to my siblings? At times I feel overloaded with managing Mom's accounts and other business matters, as well as helping care for her. I work hard and keep good records, but feel that having to send out complete statements of her finances regularly is just too much. I wonder what is required or what is the norm.
1 Answer from Attorneys
Re: Duties of Attorney in Fact
Your responsibilities are dependent on the wording of the power of attorney. In other words, if the power of attorney requires you to give a financial statement to your siblings or others, you must do that. However, if there is no such requirement in the document, you do not have to do anything your mother would not have to do.
If you would like more information, please go to my website at www.cutchinlaw.com or call me.
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