Your Parents and a Power of Attorney


A lot of clients come to us and they are taking care of their parents. They’re acting in what we call fiduciary relationship, usually as the power of attorney. The client will ask a lot of questions as far as responsibility goes, and as long as you’re acting prudently or in the best interest of your parent, you don’t have any personal responsibility. If you do act improper or benefit yourself above the needs of your parents, that is frowned upon, the power of attorney could be revoked or challenged, and that could result in some personal responsibility. Most children have the best interests of the parents, and that will solve the problem.