About 6 or 7 months ago I was given NJ medical power of attorney and then 5 months ago I was given NJ durable power of attorney to friend I have known for many years. These were done while he was in the hospital. His doctors, nurses and social worker helped him fill it out and it is filed with the county he lives in. I was given the authority to handle anything having to do with his property, finances and basically his life. Collecting any money due, depositing in my account, writing checks on his behalf, paying his bills,making all financial decisions, et cetera.It is very long and detailed. He wrote it a lot of extra details. Thus far, I have only used the medical power of attorney powers when the hospital keeps calling me about him. He recently asked me to have all of his income direct deposited to my account and for me to now handle all of his affairs. He suffered severe brain damage several months ago and his mental state has declined to the point to him basically being incompetent and his health has declined. Am I able to have whatever monies he receives directly deposited into my account as the power of attorney states? I know that he still receives money from his employer. I know that taxes will need to be filed for 2015. Am I able to file his taxes? I think he may have additional income but I am not sure from where yet. He does not seem to remember much at all which is making things difficult. He is only retaining up to about 4 days of memory at a time at this point.
1 Answer from Attorneys
I do not recommend depositing his income into your account. Keep the funds separate. You should take the power of attorney you have to his bank and become a signatory on his account so that you can use his money. It co-mingling your funds can cause you problems down the road.