Legal Question in Family Law in Florida
Power of Attorney
Does the sibling with power of attorney have to give the other siblings a financial report with recepits to show how money is being handle for their parent?
1 Answer from Attorneys
Re: Power of Attorney
A person with power of attorney (Attorney in Fact) has a fiduciary duty to the grantor of that power. There is no specific duty to provide financial reports to other interested parties, but I would suggest that it is a good idea and will save both litigation costs and hard feelings in the future. If you are living up to your fiduciary duties, then what you have to report should allay your siblings' worries rather than heighten them. If you are doing something you feel the need to hide, that may be a warning sign that you are not fulfilling your fiduciary duties (unless there is a particular reason for withholding information, such as parental request or the sibling is insane and violent).