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I have a POA in place for my mother-in-law. My POA is dated 2005 and has never been rescinded. I need to arrange for more funds for her ongoing support through her credit union account but the credit union says the POA is too old! My mother-in-law is 93 and not mentally competent. I was able to sell her house 18 months ago so I have been using those funds to pay her rent. How do I get the credit union to honor my POA?

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In your PoA document, what is the criteria for activating the authority? Usually it is 1 formal medical diagnosis of incapacity. I have needed a letter from my LO's doctor on clinic letterhead stating the diagnosis and the need for PoA intervention/management.

I know from personal experience with 3 different banks and a few annuity companies that financial institutions all have different criteria for accepting PoA. But I've never heard that the document is "too old"... that's ridiculous if the paperwork was executed properly, fully and legally but I guess anything is possible. I would consult with an attorney.
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Reply to Geaton777
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Banks and credit unions are very much more picky about POAs than are any other entities.
You are going to need to attend an elder law attorney if you cannot access account. It is too late, as you observe, to do another POA. I suspect the problem isn't the age but how it was done or by whom. If this is a solid POA by an attorney it is actually ILLEGAL not to recognize it. So you need an elder law attorney to start with some attorney letters to the bank. You may need emergency guardianship, and APS may be able to help you get that; in some states they can make a call to a judge of a court and get it.

Sorry. What a mess. Very distressing. Wish you good luck.
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Reply to AlvaDeer
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Contact an attorney.
These are legal matters which require a professional, licensed attorney.
States have differing requirements. Do not rely on feedback here as each (legal) situation has extenuating circumstances.

Gena / Touch Matters
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Reply to TouchMatters
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There are numerous variables.

I suggest you ask the credit union for a written explanation of why they are not honoring it.

Beyond that, I suggest consulting with an elder law attorney in your area. See https://www.naela.org/
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Reply to elisny
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I did encounter an insurance company who made me sign a notarized affidavit that the POA was still current before they would honor it. They said that was their policy when the POA was more than 10 years old.
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Reply to CSX321
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I have that problem with MetLife. There is a national POA form that some states accepted. Mine did not. MetLife just sends me a form letter and attachment that does not tell me exactly what is wrong. It lists many things that may be wrong one of which is that my POA does not specifically list for me to "make decisions regarding life insurance or annuities". I think 17 states agreed to require the national POA form which does have a list of things for the person to initial each one. I read where one person said to include these things and say all of the above are being allowed. Many elderly people do not want to initial a list of things. Then go to a bank with her or Fed Ex and get it notarized. Take the old one if they ask to see it.
Another thing you can do is setup an online account in her name with her email and see what can be done online. When I tried to move money from her checking account and could not, the 1-800 number told me to move a few dollars into the account and see if that worked. Then move what I needed to move out after that. Keep records of every transaction with her money. I have an office file cabinet and labeled folders. It is a big job!
I changed her address fairly easily using her online access. I may try to pull out her money with MetLife which has tax consequences. In person, a local bank in her state accepted my POA just fine. Merrill Lynch required their own forms to be signed by her and did not accept the old POA which was done about a block from their office in the 90's. They did come to her house when I was there.
Everyone needs to verify their POA.
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Reply to CareforMominTN
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Do you have electronic access to her credit union account? Can whomever needs money do an ACH withdrawl automatically? We paid for my Mom's Memory Care facility via ACH transfer. It didn't require any approvals from the bank.

What exactly do you need from the credit union?

P.S. The reason why they are being extra careful is because of all the scams that target seniors and withdrawls of large amounts of money. It might be worthwhile to talk to an elder lawyer (look for state lawyer referral programs) to ensure you have up-to-date docs for her, before she dies. Estate and healthcare law has changed quite a bit since 2005.
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Reply to ChoppedLiver
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I too encountered my POA (established in 2003) being too old. My uncles eldercare attorney signed an affidavat affirming it was still current and valid. I now have many copies and send along with the POA whenever it is needed.
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Reply to AMZebbC
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DSuden: Retain an attorney.
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Reply to Llamalover47
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