answersLogoWhite

0


Best Answer

No, the person holding a POA does not become legally responsible for any of the grantor's debts that exceed the grantor's income/assets. This of course does not mean that the individual holding a POA has the legal right to incur debts that are not considered necessities (food, clothing, medical expenses, shelter, transportation etc.) for the care of the grantor.

User Avatar

Wiki User

16y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Do I have to pay out of my pocket as power of attorney for mothers financial responsibilities when her finances runs out and she is on public assistance?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What is meant with federal student aid in finances?

Federal student aid may be necessary depending on your finances. They provided financial assistance for grants, loans and work study program for those who have completed high school.


Discuss the importance of social responsibilities and financial decision making?

Social responsibilities in financial decision making are important as they ensure that businesses consider the impact of their actions on stakeholders, society, and the environment. Incorporating social responsibilities into financial decision making can lead to better long-term outcomes, improved reputation, and increased trust among customers and investors. Failure to consider social responsibilities can result in negative consequences such as reputational damage, lawsuits, and regulatory fines.


Does Paula Deen manage her own finances or relegate to financial staff?

financial staff


Are you responsible for person finances after death with a general power of attorney?

A power of attorney represents a living person. After their death, the power of attorney is no longer valid.


What are responsibilities married couples share?

Finances, cooking, house chores, and child care


Are there financial companies that offer advice on credit?

Yes, there are many agency that can offer financial planning to help you manage your finances. This will help you get your finances under control which will bring up you credit score.


How can different sources of funds help a business achieve its financial objectives?

While private funding has its limitations, almost all business enterprises are to depend on bank finances to achieve their financial objectives. While government assistance/contributions are not always forthcoming, they also help in flourishment of businesses.


What is in the description of the job of accountant?

A person who has chosen the career path of an accountant has many responsibilities. This person will perform many accounting procedures such as the recording of finances for a business or an individual. They also analyze business data and provide financial advice.


Do you have to be notified if your credit limit is lowered?

No because it is your responsibility to keep track and manage your own finances. Unless you gave someone power of attorney over your finances then it is their responsibility to manage and keep track of your finances.


Where can one get advice for Family Finances?

Advice for family finances can be found by talking to your local bank branch officer, Our Family Place, Family Education, Your Family finances, and Morning star Financial.


What are the advantages of a financial manager?

An advantage of having a financial manager is the ability to get advice on finances from a professional. Financial advisers can also help families get on a budget.


How is the financial management software a benefit when you have top notch accountants that could do the work for less money?

The financial management software would allow you to take control on your finances, allowing you to manage them at your leisure. With the financial managemnet softare you are the "boss" of your finances, instead of depending of an accountant.