Legal Question in Wills and Trusts in Ohio
I am The executor of their will (not a living will) and eldest son in my family. I just found out that both of my parents have been in a nursing home in Ohio for approx. one month. I live in Nevada. They are both incapable of handling their own affairs and I need to know if I have fiduciary responsibility for their estate; If so, What financial decisions am I able make and what am I expected to do?
3 Answers from Attorneys
As executor of their estate you have no power while they are living. You need to find out if the have a financial power of attorney. If they do not and they are capable of signing you should contact an attorney as soon as possible to have them sign a power of attorney. If they are not capable someone in Ohio should apply for guardianship.
An executor has no power or authority to make decisions on behalf of any living person - that power only becomes effective at the person's death. You should try to find out if your parents have named you under a power of attorney (financial or health care). It sounds like they may not be competent to sign a power of attorney at this point - if that is the situation, you would have to have a guardian appointed for them to make their business/healthcare decisions.
I agree with the previous attorneys answers in that you have no fiduciary responsibility for your parent's while they are still living if you are only the executor of the estate. You mentioned that your parents were both incapable of handling their financial affairs. Incapable does not necessarily mean that they are incompetent. If they are not incompetent, they still may be able to execute valid powers of attorney for healthcare and financial purposes. If not, you would have to file for a guardianship with the county probate court in which they reside.
If you need further assistance or information, please contact my office, I would be happy to help.