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Estate Planning >> Elder Law >> How to handle financial affairs of incompetent?

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Discussion: How to handle financial affairs of incompetent?-
#5, posted 26 Jan 2022 7:33 pm135 words
  Texas Daddy (Offline)

Joined 26 Jan 2022 1:00 pm

2 posts

9/10 Rating
My mother is legally blind, and I have handled all of her finances for her for several years now.

In the last two years she has become a victim of dementia. I have had some problems with her bank not allowing me to use her debit card recently.

We have lived in this town for years, I have always handled her account, even signed her checks right in front of the tellers.

Now they say I can't have anything to do with her account. I want to switch bank accounts, but apparently I need power of attorney to do so... but she's already too incompetent to sign something for a notary.

What course of action do we take now? If you could point me in the right direction, I would be so appreciative.

Thank you!

Edited 26 Jan 2022 7:33 pm by Texas Daddy Reply  
#40, posted 27 Jan 2022 4:33 pm, in reply to #5200 words
Customer Support (Offline)

Joined 26 Jan 2022 1:01 pm

144 posts

9.6/10 Rating
Dear Texas Daddy,

You are right saying that it is too late for your mom to sign a Power of Attorney appointing you as her agent, because she is already incompetent.
Power of attorney may only be executed if the Principal (person delegating her rights) is fully competent.

As we understand you situation, the only way to proceed with the management of your mom’s financial affairs is to petition the court for appointment of a guardian.

In Texas, an incapacitated person is defined as an adult who, because of a physical or mental condition, is substantially unable to provide food, clothing, or shelter for herself, to care for her own physical health, or to manage her financial affairs.

We recommend you to check the requirements for application for guardianship at your local county court.

Please note, that the appointment of a conservator constitutes a finding of legal incompetency only if the order specifics that the court determined that the person was unable to manage his/her property or affairs effectively because of conditions which are listed.

Please be advised that Legal Helpmate is not a law firm and we do not give legal advices to the public.

Best regards,

Legal Helpmate

Edited 1 May 2022 11:37 pm by Customer Support Reply  

#185, posted 22 Jan 2022 12:38 am69 words
Advocate (Offline)

Joined 22 Jan 2022 12:26 am

1 post

Deleted 22 Jan 2022 12:44 am by Advocate Reply  

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