Legal Question in Consumer Law in Wisconsin
i am the poa of health for my parents. my sister is poa of their finances. she won't give me any info on their situation as to is there enough money for their long term care. also their hired financal advisor won't talk to me either
1 Answer from Attorneys
If your parents executed these powers of attorney recently under new WI power of attorney laws, the legislature recommended forms specify that the health care power of attorney (or, actually, the new "attorney in fact who is the person that actually makes the decisions under this POA) should not be the same person who serves your parents under the financial power of attorney. This "separation of powers� was probably designed to avoid conflicts of interest regarding health care decisions. That is, the State did not want the person making the health care decisions for your parents to skimp on their health care costs in order to preserve your parent's estate for their heirs (who, as in the case of you and your sister, are probably the same children who end up being appointed to serve under such POA's). Additionally, depending upon the terms of the financial power of attorney, there may not be any obligation for the POA holder to account to you. Your dilemma, however, is very real in that you do not know what they can afford in terms of long term care and how to plan for that eventuality. If you are unable to work out some level of coordination with your sister, I would recommend that you retain a lawyer to try to get the information informally, or to sue for an accounting if necessary. You could also interview nursing homes, etc., and then submit the financial eligibility forms to your sister to deal with as a last resort, or suggest a product such as long term care insurance to your sister, if your parents might have any assets available to pay for such a product. Although it can be extremely expensive and is only available to those under age 79, long term care insurance an give predictability to these costs for planning purposes and allow your parent's representatives to determine how much money is left for other things such as estate planning in order to provide something for the future of their children or grandchildren. Please be aware that my responses to you in the public web forum do not make me your attorney and that I am not representing you or taking any action on your case. Instead, these answers are intended for public educational use only and may also contain lawyer advertising materials. Regardless of this, however, you are still welcome to contact me during business hours at my in Racine if you still have questions, or see me on the web at www.jayknixonlaw.com. For a list of my other answers on Law Guru, please see my profile link here at lawguru.com.
Related Questions & Answers
-
Hi, i bought a used car about 4 months ago from a dealership and the other day the... Asked 7/13/12, 10:22 am in United States Wisconsin Consumer Law
-
Where is the merger clause in the terms of use for a site like amazon or netflix? Asked 6/09/12, 1:12 pm in United States Wisconsin Consumer Law
-
I purchased a car in March from a small dealership. Title was clean and the... Asked 8/03/11, 9:51 am in United States Wisconsin Consumer Law