If a POA for a parent has financial challenges, will the parent have to be responsible for any debt because they are a POA for them?

Asked on June 10, 2014 under Estate Planning, Illinois

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

Do you mean is the parent responsible for the debt of the POA him or herself? No.  The parent would not be responsible for the debt of the other person.  But I caution you to allow some one who is fiscally irresponsible to handle the finances of the parent. They could cause that parent's financial security to be at risk.  Good luck.


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