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Smawgunner
Member
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# Posted: 16 Jul 2018 09:33
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My mother is getting up in age and someone recommended that I become her power of attorney. What is the process and average cost to do this? I’m in Ohio BTW
Thanks!
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Smawgunner
Member
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# Posted: 16 Jul 2018 10:12
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I guess my question is do you need an attorney to draw it up or is it safe to download a canned form from a place like legalzoom? Not sure what's involved.
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ICC
Member
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# Posted: 16 Jul 2018 10:22
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What does she have to say about that? Is she able to handle her affairs responsibly still, or is she in danger of being taken advantage of? Just because someone is old(er) does not mean they need to have their affairs managed for them.
Everyone should have a medical advance directive though --- the document that states what one's wished for medical care if they become incapacitated. Two separate things.
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Smawgunner
Member
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# Posted: 16 Jul 2018 11:12
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She’s 81 and so far in good health. We’re trying to plan ahead.
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DaveBell
Moderator
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# Posted: 16 Jul 2018 12:29 - Edited by: DaveBell
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I have power of attorney (POA) and I am named on her advanced medical directive (AMD). I am the executor on her will. Any power of attorney terminates upon her passing and the will takes over. The executor of a will has only the power to execute the conditions of the will. If there is no will, the responsibility of settling the estate passes first to the children. The exeutor is paid a fee from the estate as a percentage of the assets. Settling an estate is not easy in most cases, selling assets, paying debts, then distributing the balance to heirs. A lot of accounting, forms filed to county, etc.
Quoting: Smawgunner What is the process and average cost to do this?
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DaveBell
Moderator
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# Posted: 16 Jul 2018 12:40
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Quoting: Smawgunner legalzoom
I did my will from LegalZoom since they craft the will according to your state's laws. You may need a lawyer when the time comes if the estate is not simple, if siblings want to argue, etc. There are set fees for the lawyer since the work is likely only advice and forms. These can be found on the internet. Many counties have an office you must coordinate with and can offer advice. So with Will, POA, and AMD, having identified a local lawyer may be beneficial. Upon passing, you need to identify one anyway, might as well do the research unstressed.
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Smawgunner
Member
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# Posted: 16 Jul 2018 13:19
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My father recently passed and the two of them had all their ducks in a row. The will for mom is still current and it's just my brother and me. I'm the executor and so far it's been simple. But we're mostly concerned about medical decisions should she not be able to make those decisions.
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DaveBell
Moderator
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# Posted: 16 Jul 2018 20:24 - Edited by: DaveBell
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I would get the (durable) POA and AMD from LegalZoom. You will need the documents notorized with her and your signatures in person. Will from LegalZoom if simple, Will from local lawyer if complicated.
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