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    rhender49's Avatar
    rhender49 Posts: 1, Reputation: 1
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    #1

    Feb 18, 2007, 10:32 PM
    Power of attorney fees
    My dads brother passed away about a year ago and my dad became power of attorney for his property and financial assets. Now, I think my dad should be paid for his troubles, and there have been some. My uncles assets include two older houses and about 200k in the bank. Can you help me with this..
    Thanks
    Ray
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Feb 18, 2007, 10:51 PM
    Power of attorney means you have control over someone while they are alive.

    If your Dad's brother is dead, NO one has power of attorney over him.

    Your father is EXECUTOR of his will and estate.

    The executor's fee is typically 4% of the entire value of the estate.

    So if the 2 houses and the 200K in the bank are all the assets left over (after the creditors have been paid), then he should take 4% of that.

    Keep in mind, it may not be 4%.

    It depends on where you live.

    So, where do you live?
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
    		  
    #3

    Feb 18, 2007, 10:52 PM
    Hello rhender:

    You dad became executor of his estate, not power of attorney. Executors can be paid for their work. He just needs to bill the estate for his reasonable compensation.

    excon
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #4

    Feb 19, 2007, 04:48 AM
    If your dad is just the Power of Attorney, then he is not doing it property, the court as mentioned should have appointed him to oversee the probate of the estate, following the instructions of the will.

    The court allows him to be paid for this from the estate.

    A POA as mentioned is just someone who can sign for someone else while they are still alive, all POA agreements end at death.
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