Is it necessary for my wife to spend money for a financial POA or anything else since she is the sole beneficiary of her mother’s estate but there is really nothing to split up?

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Is it necessary for my wife to spend money for a financial POA or anything else since she is the sole beneficiary of her mother’s estate but there is really nothing to split up?

My wife’s mother lives with us and is on hospice care. She is in poor condition and her days are numbered. My wife is the beneficiary of her minimal life insurance and will be handling all matters pertaining to arrangements when that time comes. My wife has a half brother and half sister which are also her mother’s children but are not involved with their mother’s life. Her mother has no real estate or properties to disperse, pretty much the clothes on her back and some personal belongings. She has signed a DNR order and a health POA through hospice.

Asked on June 22, 2015 under Estate Planning, Illinois

Answers:

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

Answered 5 years ago | Contributor

I am so sorry for the situation.  A POA dies with the person for whom it is enacted so it will do no good for your wife once her Mother passes.  If there is a beneficary designation of ehr life insurnace already on file then you are all set with that.  As for her personal belongings, your Mother in law may want to give them away now before she passes.  Good luck.


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