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Who are you caring for?
Which best describes their mobility?
How well are they maintaining their hygiene?
How are they managing their medications?
Does their living environment pose any safety concerns?
Fall risks, spoiled food, or other threats to wellbeing
Are they experiencing any memory loss?
Which best describes your loved one's social life?
Acknowledgment of Disclosures and Authorization
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington. Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services. APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid. We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour. APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment. You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints. Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights. APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.I agree that: A.I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information"). B.APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink. C.APFM may send all communications to me electronically via e-mail or by access to an APFM web site. D.If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records. E.This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year. F.You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
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Mostly Independent
Your loved one may not require home care or assisted living services at this time. However, continue to monitor their condition for changes and consider occasional in-home care services for help as needed.
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POA will not let you put yourself as joint on an account. Both seniors will need to give the bank permission for you to be added. Like in person, signature required permission.
Being POA and joint account holder are two different things.
You should speak with the account holders and figure out the best path forward to protect the demented senior in the event they are the one left.
If someone has financial powers of attorney for the person with dementia, that should be enough for the bank to allow them access to the person's accounts. Some banks prefer their own POA forms. Some banks don't like to accept POAs at all. However, some states have laws that require a financial institution to accept a valid POA, so check with an attorney if the bank is balking. Beware of becoming a joint owner on another's bank account. Some, but not all, of the problems include the fact that when the mother dies, all the money in the account belongs to the joint owner and is not considered a part of her estate. This may cause problems with beneficiaries of the mother's will. The money in the account also is exposed to the joint owner's creditors or could be made part of a settlement in a divorce. There also could be tax consequences for the joint owner. I am assuming that a valid financial POA for the person with dementia exists. If not, the person with dementia may not be able to grant financial POA to another person (the agent). You have to be mentally competent to grant these powers. In some people, competency can come and go, be good one day and not the next. An experienced elder care attorney can help. Speaking to the doctor of the person with dementia is a good idea. If a POA isn't possible and the competent partner is unable to serve as a conservator/guardian for the person with dementia, another person will have to petition the court to be appointed as conservator/guardian. Unfortunately, this can be expensive. Speak to the bank about managing her bank account with the POA. Speak with an elder attorney if anything is unclear.
This is where it gets sticky. You may have access with POA but, you can not put yourself as a joint account holder without ALL account holders permission.
Even if a bank allowed it, the laws governing POA will not, you can not do anything that essentially transfers assets to yourself and that's what being joint account holder does. You now own the money as much as the other.
These types of situations need to be implemented outside of POA.
As I understand it, the POA has access to any accts once the principle is deemed incompetent. You don't need to be on an acct to write checks and sign them with your name and POA after it. Always put POA after anything you sign for the principle.
I was on my Moms acct anyway but I was able to cash in her CDs to pay for her care and have the money transferred to her acct. I had no problems in my area of NJ with using my POA.
Your best bet is to go to the bank and ask an officer. There are ways that the acct can be worded.
The POA is always added to bank accounts, but only as POA. That means they pay the bills signing as a POA is supposed to sign. A POA should take their papers to all banks and legal entities and be registered as POA. A POA ends with death. Upon death all account without a POD are in the control of the EXECUTOR or the WILL or the TRUSTEE of a TRUST. The work of the POA is over. What "protection" do you feel is needed for these accounts?
My parents put me on their account years before it was necessary and without my knowledge at the time. I was also POA as well as their trustee, but that one account wasn't in the trust.
Since banks can be jerks about POAs, I recommend being put on the account so none of that's an issue. If your folks trust you not to drain their account behind their back, then by all means have them put you on it.
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington.
Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services.
APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid.
We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour.
APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment.
You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints.
Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights.
APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.
I agree that:
A.
I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information").
B.
APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink.
C.
APFM may send all communications to me electronically via e-mail or by access to an APFM web site.
D.
If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records.
E.
This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year.
F.
You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
Being POA and joint account holder are two different things.
You should speak with the account holders and figure out the best path forward to protect the demented senior in the event they are the one left.
This is where it gets sticky. You may have access with POA but, you can not put yourself as a joint account holder without ALL account holders permission.
Even if a bank allowed it, the laws governing POA will not, you can not do anything that essentially transfers assets to yourself and that's what being joint account holder does. You now own the money as much as the other.
These types of situations need to be implemented outside of POA.
I was on my Moms acct anyway but I was able to cash in her CDs to pay for her care and have the money transferred to her acct. I had no problems in my area of NJ with using my POA.
Your best bet is to go to the bank and ask an officer. There are ways that the acct can be worded.
What "protection" do you feel is needed for these accounts?
Since banks can be jerks about POAs, I recommend being put on the account so none of that's an issue. If your folks trust you not to drain their account behind their back, then by all means have them put you on it.