Apologies for yet another [E]POA thread but none of the existing ones seem to address my query.
My mother is still compos mentis although some cognitive degeneration has been diagnosed and she recently took up residence in a nursing home. She can still make decisions but has asked me to take care of household finances, bank accounts etc. which I have been doing for the past few years for her anyway. Most things are on direct debit so there's not much to do there really. It is unlikely that her house would need to be sold any time soon. The family/my siblings are on good terms and nobody has a problem with me fulfilling this role.
Is there any overriding need for an [E]POA in this situation or should things change (e.g. she ceases to be compos mentis)? Are there any significant pros/cons here?
Thanks
My mother is still compos mentis although some cognitive degeneration has been diagnosed and she recently took up residence in a nursing home. She can still make decisions but has asked me to take care of household finances, bank accounts etc. which I have been doing for the past few years for her anyway. Most things are on direct debit so there's not much to do there really. It is unlikely that her house would need to be sold any time soon. The family/my siblings are on good terms and nobody has a problem with me fulfilling this role.
Is there any overriding need for an [E]POA in this situation or should things change (e.g. she ceases to be compos mentis)? Are there any significant pros/cons here?
Thanks