Can a person be paid to act as power of attorney?
Can a person be paid to act as power of attorney?
This is a difficult question confronted by many individuals acting as power of attorney for family members or friends. There is no perfect statutory answer in Pennsylvania, but it is clear that a person actively acting as power of attorney is entitled to fair and reasonable compensation for the work they are doing.
Can You reimburse an agent under a power of attorney?
What is considered reasonable is going to depend on your duties and the area you live in. But it sounds like your duties go far beyond what an agent under a power of attorney would typically be reimbursed for.
Who is the agent under a power of attorney?
Typically, a son or daughter will be the person acting as Agent under a power of attorney document on behalf of their parents. Before setting a fee structure, an Agent should know that there are two groups that could bring payment complaints. They are: The children and beneficiaries of the incapacitated person.
Can a power of attorney claim 3%?
In Ontario a Power of Attorney can claim 3% of the monies received and disbursed by the grantor. “Image courtesy of Grant Cochrane/ FreeDigitalPhotos.net”.
This is a difficult question confronted by many individuals acting as power of attorney for family members or friends. There is no perfect statutory answer in Pennsylvania, but it is clear that a person actively acting as power of attorney is entitled to fair and reasonable compensation for the work they are doing.
Can a power of attorney claim reasonable compensation?
In some states, if state law and the power of attorney document authorize it, people acting under power of attorney may claim reasonable compensation for their services. In such cases, the attorney-in-fact must have documentation of time spent and actions taken to justify the compensation they claim.
Can a power of attorney claim be denied?
If there has been misconduct by the attorney, compensation can be denied. Of course, there are legal costs in pursuing remedies. A principal concern would be if your sister acted as your mother’s agent or as her attorney. Was your mother incapable of managing her finances?
What is a reasonable amount of reimbursement for me as an agent under a power of attorney?
What is a reasonable amount of reimbursement for me as an agent under a power of attorney who is paying bills, picking up prescriptions, and going on doctor visits and trips to buy groceries for my elderly mother? Download our in-depth guides on elder law topics.