Transfering funds as POA from one account to another

fearfeasog

New Member
Jurisdiction
Florida
Good morning. My mom is in hospice, and I am her POA. she has 2 deposit accounts, and I have POA on both Account A receives her SS check, and I am not co-owner or beneficiary. Account B receives her pension and I AM beneficiary. I'd like to move funds from A to B so that I can pay her bills when she passes (we're talking less than $2000 here.) Can I legally do that now as POA?

POA is filed with both banks, and I have confirmation paperwork from both.

thanks, ff
 
I'd say yes, so long as you are not misappropriating the funds it is not an issue. If the money disappears and the bills don't get paid you should expect to draw attention.
 
Can I legally do that now as POA?


Some financial institutions don't honor any POA.

No law compels a financial institution, an entity, or person to honor a POA.

I suggest you ask the POA if your ploy would be allowed by the POA.

If not, simply have your mother write a check from her account making the instrument payable to you.

You can then use the money to pay her debts, if you wish.

Legally, any debts a person owes expires upon the life of the person.

If your mother has a substantial estate, her estate would pay the dents.

If your mother has no such estate, her debts would simply be extinguished upon the expiration of her life.

The difficulty here is that no one can predict the date of one's death for natural causes.
 
Thanks to all for your replies. I got a call back from the lawyer finally this morning and she said to go ahead and do this. So I did. No problems at the banks.
 
Can I legally do that now as POA?

Answering this question would constitute legal advice, which is illegal for anyone not licensed to practice law in Florida and which would be imprudent for anyone who has not read the POA (note that a "POA" is a documents, so you are not "her POA;" you are the agent or attorney-in-fact pursuant to a POA) and the account documentation.
 
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