I'm in a situation where one of my father has gone through the process of doing all of their estate planning with a trust, a POA, directive and will. Since that happened a little over a year ago the only information my father has shared with me are some vague details about what I will be getting and that I will be the executor. Recently I have seen some actions from my father that are making me question if that is actually what he has in his estate plans.
Legally I have no right to see this, and I have simply asked if this is something I can see, minus that I have been very honest in saying that I would be happy to take on the role if that is what the documents say, but that my default position is that I'm assuming that I will get nothing. With that being said what has me more concerned are the details surrounding his POA and health directives. I know he has both, but I have no idea who has been named. I have asked him multiple times directly if he can either tell me who has been named or to just tell me that he would prefer not to tell me but every time he evades the question. His current mental state is that he is legally able to make his own decisions but we are seeing early stages of what might be cognitive decline.
This puts me in the position where if something was to happen I would literally not know who to contact if I got a call. For all that I know I could be named, but based on our family dynamics there are other members of the family that I would fully expect to take legal action if I did anything that is not 110% by the book just to cause trouble. Though I am always one to run clean books with my own business this is a situation where I feel like I need to be extra careful.
Because of that I told him that if he refuses to tell me who I would need to contact then to the best of my knowledge the only thing I could legally tell someone would be that there are directives and POA's in place to the best of my knowledge but I have no idea who it is. Following on from there to my knowledge it seems like from a legal standpoint my only choice would be to not enter his house, or take on any of these roles and likewise make sure that nobody else does unless they can provide legal documentation giving them the right to do so or unless I am presented with documentation giving me the legal right to take on this role.
Am I missing anything with this? My intent is to be able to help and I would be willing to take on these roles if that was what he wanted and it is done 100% legally and ethically. But at the same time I'm really struggling with the reluctance to just tell me who I would need to contact if something happened. My goals are to be ethical, and to do everything by the book. (avoiding lawsuits etc.)
Plan to not inherit anything. Plan to decline the executorship and let the second take care of it. Move along, live your life free of worry about your parent. Avoid getting sucked into that black hole of continuous, never-ending drama and needs. It's pretty clear you are cut out of everything except the work. An earlier writer noted that dementia can go on for years and years; living in a dementia unit is about $5000 to $7000 per month now. Who knows how much in the future, so the estate will be eaten up in care expenses anyway. Leave all that mess to someone else. Let go and let God.
Do you know the attorney who drew up his documents? You may be able to ask if your fathers new documents for POA, etc have ACTUALLU been brought up to date and are in order. If you father seems to be unable to properly conduct his own affairs, then you would need to know who has been appointed to help him.
Very odd that this is a big secret....how does he expect your family to find out who is going to do what?
Second, after death the Will is in force and the Executor is in charge.
Third, as an old person myself, I don't want my family bugging me for all the darn details, because it opens up a can of worms. So stop asking him. Show a little respect.
I agree that it is mighty strange for your father not to tell you if you have either financial or medical POA or both. Mighty strange isn't against the law, but it is against his best interests. A logical conclusion is that you are not POA or Medical Proxy. We don't know that for sure, but it seems like a good bet, yes?
Let us say that Dad has a stroke or a bad fall and needs temporary help. In walzes a somewhat younger girlfriend who has been in the picture but behind the scenes for a long time. Oh, lets go all-out soap opera here. It is a younger boyfriend who shows up, POA documents in hand, and starts handling your Dad's finances. Hmm, no wonder Dad was a bit secretive, eh? But how would your life be different/better if you know that right this minute?
BTW, if Dad is smart, he has given a copy of his advance directive to his PCP and other medical facilities he uses. I notice they all ask if you have one. So they would know who to contact.
And what if Dad has left a huge chunk of the estate to this "friend" -- how would knowing that tomorrow make any difference?
I understand the concern about highjacking the inheritance. We've seen that scenario on this forum. But I don't see how knowing all the details about your dad's estate planning protects you from that. So you find out that you are both DPOA and Medical POA this week. And dad goes downhill, but not to the point of being declared incompetent, and a year from now he sets up new POAs giving authority to his caregiver or his high school sweetheart or his lawyer. He can do that at any time, as long as he is still competent. So what would you gain from knowing all the details today? How would that protect you from the highjacking scenario?
If that book tells you what to do and how it protects your interests, share! We love to learn from each other.
Your Dad is in his seventies. (So am I.) He has started repeating stories he has told before. (I do too. In fact among my peers we commonly start a story by saying "I don't remember who I've told this to, so stop me if you've heard this ...") He is showing some other non-specified signs of cognitive decline. But he set up his estate plans a year ago, before these signs started showing up, so presumably he was in his right mind when he made them. Right?
If, in fact, Dad is in the beginning stages of dementia, his care is going to be VERY expensive. And it could go on for 20 years or more. That will eat up huge amounts of the estate. So much so that worrying about what is left is simply not worthwhile.
The best kind of check-and-balance is to maintain a loving relationship with your father. Take an interest in his life. Visit often. See that he gets the best care available if he does,in fact, decline significantly.
And for heaven's sake, quit bugging him to tell you what he doesn't want to tell you. You are coming across (inaccurately I hope) as being overly interested in his money. That doesn't put any parent in a confiding mood.
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