Power of attorney and financial liablity
A few years ago, my mother became very ill and in preparation for the future, granted me general power of attorney in the event that she becomes incompetent. At the time, I didn't think anything about it and had no problem with it, but I keep hearing from other adults who are helping to care for their parents that companies are going after them because they are general power of attorney and saying they are legally liable for debts such as prescriptions and other necessities that their parents incurred while they (the children) were handling the parent's affairs on the parent's behalf. I have also heard that the companies can come after my assets since I am power of attorney and demand that I pay all my mother's debts or they have the right to turn me over to a collection agency. Is this correct? What exactly does having general power of attorney mean for the person granted that ability?
1 Answer from Attorneys
Re: Power of attorney and financial liablity
Having a power of attorney from someone grants you authority to act in their place in certain matters. It does not make you liable for the person's debts.
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