Durable power of attorney
I have durable power of attorney for my Dad and save 3/4 of his S.S check in mutural funds. He is in a VA hostital and they don’t want his S.S. check like other nursing home did. I spend some on clothes and food for him everything else the VA take of. Of the amount left over how much per year am I aloud to spend or give as gifts.
Re: Durable power of attorney
First this is not a Social Security question so much but rather a question of your powers granted in the Power of Attorney. You must read the document – if it says you can give gifts, then you may do so. If the language is limited then so are your powers.
One question I have is how you get his money: does he sign over the check, it it deposited into a joint account or does the check come made out to you as his “representative payee”
If you are his representative payee, then you may have certain restrictions under the SS law.
see; http://www.ssa.gov for info on Rep. Payee duties.
Randall Selagy
F. Randall Selagy, P.C.
150 Beverly Drive
Kennett Square, PA 19348-1625