what is a reasonable fee for managing a power of attorney for someone_

A reasonable change for being someone's POA is $0. But you're more than a POA, you're managing his life. So let's break it down. Sale of his belongings: 15% of his profits would be a reasonable amount.

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How much does a power of attorney cost?

Dec 16, 2017 · A reasonable change for being someone's POA is $0. But you're more than a POA, you're managing his life. So let's break it down. Sale of his belongings: 15% of his profits would be a reasonable amount. Sale of his home, where you kind of acted like a 2nd realtor, representing his interests: 2-3% of the sale price of the home would be reasonable.

Can my wife claim a fee as power of attorney?

What is a reasonable amount of reimbursement for me as an agent under a power of attorney who is paying bills, picking up prescriptions, and going on doctor visits and trips to buy groceries for my elderly mother?

Why do I need to pay someone under a power of attorney?

Currently, the prescribed fee scale is as follows: 3% on capital and income receipts; 3% on capital and income disbursements; and three fifths (3/5ths) of 1% of the annual average value of the assets, as a care and management fee (although this last fee has been determined to be an extra fee, and is only included as part of compensation in some circumstances).

What is the fee scale for a PoA?

A power of attorney is nothing more than a special kind of legal document that grants someone else the legal authority to act on your behalf. A power of attorney is not a job, a position or a career. Rather, it describes the relationship between two people. Some powers of attorney include payments or salaries, while others do not.

Activating the Durable Power of Attorney

Activating the Durable Power of Attorney#N#Often the Durable Power of Attorney will state that the Agent may only act if the Principal is disabled or incapacitated. It is important to read the Durable Power of Attorney and determine what documentation is necessary to activate it.

Asserting control over the Principal's assets

Asserting control over the Principal's assets#N#Once the Durable Power of Attorney is activated, an Agent with the authority to manage the Principal's finances needs to establish control over the Principal's assets.

Accounting by Agent

Accounting by Agent#N#Anyone with a legitimate interest in the welfare of the Principal generally has the right to request an explanation of all property of the Principal that has come into the possession of the Agent, and all expenditures made on the Principal's behalf.

Revocation or Termination of a Durable Power of Attorney

Revocation or Termination of a Durable Power of Attorney#N#The Principal retains the right to revoke a Power of Attorney at any time, so long as he or she is mentally competent to do so.

What a Court Petition may ask the Court to Do

What a Court Petition may ask the Court to Do#N#Any petition filed may ask the court to: (1) Determine whether the Power of Attorney is in effect or has been terminated. (2) Compel the Agent to produce an accounting, if the Agent failed to produce an accounting within 60 days of a written request.

The Rights of the Principal in Court Proceedings

The Rights of the Principal in Court Proceedings#N#The Principal is automatically considered a party to any court proceeding, and therefore entitled to a copy of the petition and notice of any court hearings.

The Court's Ruling at the Hearing

The Court's Ruling at the Hearing#N#At the hearing, the court must order relief that is the least restrictive to the exercise of the Power of Attorney while still adequate in the court's view to serve the Principal's best interests.