Legal Question in Elder Law in New York

I am currently working with a 92 year old psychologist. And after 30 years he made me a co power of attorney as he and his wife have no children. his memory is deteriorating and I am concerned because There are no provisions for my continued work with him should he become temporarily or fully incapacitated. And His lawyer didn't check mark the item that allows power of attys to be reimbursed for time. I handle all his finances and am his health care proxy, co trustee for his wife and co executor of will.

I feel that protecting my self is also protecting him and he agrees. But how? Should there be a separate contract for us. how can powers of attorneys protect themselves. I keep records and follow a code of transparency.

But for example: I.e. he recently asked me to go to bank and get him $5000 and I asked for 2000. The bankers spoke with him and know he regularly withdraws cash . We have a very close working relationship with them. However when i looked at bank statements it only show that i withdrew money .


Asked on 1/06/14, 7:15 am

1 Answer from Attorneys
Richard Bryan Richard Bryan Attorney PC

If you're keeping accurate and detailed records and using only the principal's money for his benefit then you have nothing to worry about. I don't understand when you say "he recently asked me to go to the bank and get him $5000 and I asked for $2000." You asked the principal to give you $2000 out of the $5000 that was taken out of the bank? If so then yes you might have a big problem. The Power of Attorney should be modified to provide a rate of compensation for you. I would need to speak about the details a little more with you because some things are not clear; please call the office and we'll discuss this further.

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Answered on 1/07/14, 6:07 am


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