Reply to Relative wants to get on senior's bank account

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Don't put them on, the senior put you as POA to continue their wishes, which was not having this person on the account.  So do as they wish.[/quote]

The thing is the senior is in charge yet forgetful. They could be persuaded or forget they don’t want this. If the person bullies them into it, the senior may do it. In that case, I don’t see how I can stop it.

I hope it all works out. It’s upsetting, and I feel a little sick.

—OP[/quote]

I have POA for my elderly mom and am on as a joint owner for her day to day account so I can help her pay her bills.  Honestly in this case I think I’d close the account in question and open a new one where the senior is an authorized user but it’s not their account.  Since you’re joint on the account I don’t think there would be any tax implications, as it’s joint money.

I’m not sure about your relationship with the senior but I moved the bulk of my moms assets to a financial firm when she started to show signs of pre-dementia.  This firm requires all withdrawal requests to be made by phone or email.  My mom is ripe for a scam and this way the majority of her money isn’t easily accessible to her.  And any time she makes a financial decision I follow up our conversation by email and tell my brother (who will be the other beneficiary of her estate) of what she’s requested.  She sometimes forgets decisions she’s made.  It’s hard when they get old but I totally get your concerns.  [/quote]

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