Is there a downside to becoming power of attorney?

[Anonymous]

My godfather is in his nineties. He is very independent and private. We live on opposite coasts. He recently had a second fall and his church members called me and expressed concern about his ability to live alone. I spoke with his landlord, other church members, and his close friend and they all said the same thing. I have always been raised as his daughter not his goddaughter so the people close to him don't know the distinction. He also has one biological daughter who is in her sixties who lives a couple states away but is facing medical issues herself. He has been providing her with financial support and I don't think she is able to physically or financially travel to see after him. I just spoke with her for the first time a couple days ago. I am planning to go see him next week and would like to help him get some things situated that may involve getting POA. Is there a downside to getting POA? Would I be placing my personal finances at risk? There is just so much to think about. Any thoughts or experience welcome.

[Anonymous]

The down side is you might get hand cramps signing all that paperwork.

[Anonymous]

I am not a lawyer but had POA for my grandmother. My experience was that power of attorney means you are able to sign for him or make decisions for him. You can get it written for specific circumstances such as for health decisions, financial matters. etc. I had several different documents.

The risk could be someone else in the family accusing you of misusing the POA. I'd just be very careful about documenting everything you are doing.

I'd also be wary on the health decisions if you are not local. It is also a big responsibility. Maybe have the daughter control the health decisions.

[Anonymous]

I agree with 15:01. My DH had POA established for his father and we are so very glad we did because when he had his stroke, it was ssooooooo much easier to get things done. It's well established in case law that an agent acting in good faith cannot be held financial responsible for the debts of the person they hold POA for. Please note, though, if you ever sign documents on his behalf, you should always follow your name with "POA for....". That way it's clear that you're signing as the agent for the person and not for yourself. We were actually sued by a service company but, representing ourselves, won the case because DH had indicated on the document he was signing as POA. Good luck.

[Anonymous]

OP here - Thanks for the feedback and the tip for signing your name as POA specifically. It is all very helpful.

[Anonymous]

Also, it goes without saying, never promise any creditor anything (especially do not do so in writing).