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FAQ #27488

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What legal documents do I need to manage by mother's finances?

Related resource areas: Family Caregiving, Personal Finance


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To act as your mother's agent, you need a Durable Power of Attorney for Financial Matters. If a portion of her assets is in a trust, then the trustee will need to manage those assets that are part of the trust.

For more information, you may find these books helpful:
• "How to Care for Your Parents' Money While Caring for your Parents" by Sharon Burns and Raymond Forgue (available at major bookstores)
• "Protecting Your Retirement and Other Financial Information for Family Caregivers: What Every Adult Child Should Know" by Celia Ray Hayhoe www.ahrm.vt.edu/Dept/ext_retirement.html. (An order form for the book is available at
www.ahrm.vt.edu/Dept/ext_retirement.html#order.

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