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I'm livid, I asked for funds to be able to make the monthly payments until her long term care insurance kicks in. They want to send the check directly to facility which means I have to depend on them to make the payments on a timely basis every month. Which is adding additional stress on me on top of everything else. Mom's Alzheimer's has escalated to a serious place and I need to get her in immediately. Does the investment firm have the right to deny me the funds and control over my mom's monies. I also am the sole beneficiary to all investments. Not asking for all, just a small portion to get the ball rolling. Please help, I'm at a loss.

I do not understand.
You say you have POA.
Then you say the investment company has POA.
Which is it?
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Reply to AlvaDeer
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casole Aug 14, 2024
Hi Alva,

She said she has POA (she is the agent) and her mom's investment firm has a copy.
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Sorry, they have a copy of the POA showing me having power of attorney.
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Reply to Chelelynn
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My recent personal experience with one of my Mom's annuity investments is that I had to sign an affidavit, fill out their own paperwork, as well as sending a letter of medical diagnosis of incapacity, as well as a scan of my pdf document, ID, etc. It went back and forth several times for me to get their forms filled out properly. My Mom has another annuity and that company required none of that. So, you need to ask them to activate your PoA so that you can fully manage her account on her behalf and what is required to do that. That's what I did.
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Reply to Geaton777
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Another view point. I worked for an investment firm and most POA's actually preferred for us to make the payments. We had the ability to send funds via ACH or wire which the facilities certainly love. Some would have the bills emailed to both themselves and us so they could review and say looks good if there was variability and not a fixed amount. Then they could go on vacation, etc one less thing on their plate, and no one could ever say they used the funds for anything other than mom or dad's care. If you get sick or land in the hospital the payment still gets made etc.

We had to have our legal folks read the document to see what actions were allowed financially. Some documents are are drawn very broadly others could be more narrow in scope. Perhaps it is an interpretation of the document that is leading them to only want to pay to the facility. In this litigious age companies want to protect themselves.
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Reply to casole
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You May need to Hire a attorney to have a chat with them.
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Reply to KNance72
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