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Reply to "How do you officially manage your parent's money?"
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[quote=Anonymous]There was just a post on a military spouse page I follow where the bank wouldn’t accept her general POA and required her to get her deployed spouse to sign their form. Big PITA as he’s literally unavailable right now, but apparently that’s a standard based on other military spouses’ experiences. So I’d get that done for each bank they have accounts at while they are competent and able to sign. I’d also have “transfer on death” set up on all bank and brokerage accounts, assuming that matches their plans. My dad did that and it made transferring funds to myself and my sister pretty easy when the time came. [/quote]
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