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Attorney2020
Attorney2020, Attorney
Category: Estate Law
Satisfied Customers: 2578
Experience:  Estate planning and wealth preservation attorney.
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An elderly friend who is 91 years old - asked me to be her

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an elderly friend who is 91 years old - asked me to be her POA - she has no children
and her husband just passed away in September 2015. What type of POA should I get? she has a home and that equity is all she has to live off of... I am assisting her to get a reverse mortgage. Her one and only niece from her late husbands is trying to step in and trying to sell the home and put Mrs. Sakalarious in an elderly care facility. She may be 91 but she has her full mind, she has physical limitations and has asked me to assist her with the POA and she does not want her niece involved. She does NOT want to go into a facility. Her niece lives on the east coast. Mrs. Sakalarious has a live in assistant and that agency is costing her $6,000 a month. with out the reverse mortgage, she has only $20,000 to live off of. I believe I have to have a specific POA for the mortgage but should also get a general POA?
Submitted: 1 year ago.
Category: Estate Law
Expert:  Attorney2020 replied 1 year ago.

A general POA for financial affairs would allow the agent to perform all necessary financial affairs. Attached is a template to a general power of attorney that would provide for the agent to make a broad scope of financial decisions for the individual including handling real property transactions. :https://www.lavote.net/documents/power-of-attorney.pdf

Powers of attorneys are typically used for purposes of performing financial duties for another whom is incapable of performing such duties.

I hope that helped. Please ask any follow-up questions. Please rate my answer so that I may be credited for my time. I thank you in advance for your cooperation. Thank you.

Expert:  Attorney2020 replied 1 year ago.

Please rate my answer so that I may be credited for my time. I thank you in advance for your cooperation. Thank you.

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