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I have a full durable power of attorney over my mother can she sign a loan?
Anonymous6 views1 answers
My mother suffers from mental illness and as it states in the power of attorney that she wrote herself she is unable to make financial decisions. She recently signed a loan with her sister. My mother is set to inheriet some money apparnetly at her sisters urging included in this loan document that she would give her an additonal 20,000 dollars on top of the loan. I had no knowledge of this whatsoever until after the fact. Is this loan even valid or becuase I was granted full poa over any and all financial matters would this loan be null and void?
You should get with a local attorney and have them review the power of attorney to confirm it is valid. They should also meet with your mother to determine whether further analysis is needed to evaluate her competency. If she is incompetent, there may be defenses to the loan, but if she wrote her own power of attorney, it doesn't sound like she's incompetent. Further, the mere existence of the power of attorney does not mean your consent is required for any and all decisions - if your mother remains competent, she can still make her own decisions.
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