Legal Question in Wills and Trusts in Wisconsin
Pay for power of attorney and guardian
I was asked by aunt to be her power of attorney-something I did not beleive would ever happen until she died. She recently has been diagnosed with dimentia(alzheimers) disease and over the past month I have also been appointed as her legal guardian as well as poa. She was a very sharp lady and spelled out in a memo some time ago that I should be paid some percentage of her estate for performing these duties. My understanding is that poa's do get paid -mostly upon completion of the estate. My question is how much should I be reimbursed for my time now? My aunt is physically quite healthy so I will be taking care of her health care and financial matters for some time. Is there a general hourly reimbursement that is standard?
1 Answer from Attorneys
Re: Pay for power of attorney and guardian
Accurate answer is that I do not know, esp. for the state
of WI. However, let me suggest two things: 1) keep your
requested fees low, no matter how much of a martyr you become!
2) I believe you can and should take some of those fees
now while she is alive. If you wait, even if you are the
executor / trix under the will or the successor transferree
under the will or trust(S) you might no longer be able to
get such fees for pre-death "power" you exercised.
Don't be greedy, keep track of your time accurately, and
be prepared to account for every penny you ever pay yourself
as poa.
If the will provides for you to be the executor or executrix, you will
have even less possibility to pay yourself back, in my opinion.
Keep the feelings of others in mind as well; if other heirs would
not be happy to learn you've had a little finger in the till, don't
be surprised to find out later that you lose whatever you got yourself
paid, and without your aunt around to testify on your behalf, judges
can legitimately do an awful lot in the name of equity.
I have more to say but no more time today. Sorry!
Call me next week if you like, or write directly to me
... (617) 527-0050
Stuart Williams
Law Offices of Stuart J. Williams
21 Walter St.
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