Legal Question in Wills and Trusts in Michigan
I hold a durable power of attorney for my mother. Her recent health deterioration have meant I needed to begin paying her billings and managing her finances. My brothers are upset that she did not put them in charge and they want to get copies of my mothers financial statements. To keep the peace, I want to share information but I am concerned that her account numbers and other information are on these statements. Is there a document I can have my brothers sign that they will not share this information and will take on some responsibility for keeping it safe. I feel I will be vulnerable to law suits if THEY mishandle these financial statements and want to protect myself. Thanks.
2 Answers from Attorneys
You could have them sign an agreement. However, how would you know which of them let the information out if there is a problem? I think it may be wiser to either use the court approved forms on a quarterly basis which would show the money coming in and going out as well as a description. If you want to make it even easier, use a sharpie to block out the account numbers and send them copies of the monthly statements with the check register. Let me know if you would like to discuss this matter in more detail at [email protected] or 888-988-LAWS (5297)
It would depend upon the power of attorney language to see if you are allowed to respond to your brothers. Maybe, the PoA allows you to discuss mom's finances with your brothers. Usually, a PoA is designed to allow you to step in for your mom during her ill health. A common sense approach would be to realize if your mom, if healthy, would have shared her financial details with her sons. In fact, the acceptance agreement you (should) have signed states that your obligation is to the principal only - your mom. You can disclose to others only pursuant to judicial orders. Are these other sons also beneficiaries to your mom's estate upon her passing? What if one of them is not? They can be upset for not being appointed but will their challenge hold good in a court? Finally, this is not about making peace. This is about doing it right. Keep ALL records
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