I have a power of attorney for my mom. Do I have to show my sister my mom’s bank account statements?
My mom has dementia and lives in a care home. I deal with everything for her. She has two bank accounts: one in her name only, and one in both of our names.
Janine
Maple Ridge, BC
The attorney under a power of attorney must act in the adult's best interests. As bank statements are private documents, an attorney has no obligation to show them to another family member who is not listed as an attorney.
At the same time, if someone else has concerns about the way you’re managing the adult's financial affairs, it’s generally a good idea to try to address it.
Eventually, you, your sister, or another family member or close friend might be the executor or a beneficiary of your mom’s estate. So mending any communication or trust issues now can go a long way to ensuring a smooth probate process.
A conversation with your sister might uncover why she’s curious about the accounts. If you feel like more transparency could create better trust, consider providing her with more information (like a quarterly statement, or a periodic summary).
One other thing: if your mother asks to see her bank statements or records then you should show them to her. You might find this page on the key duties of an attorney helpful.
Nicco Bautista
Lumina Law