Does someone who holds Power of Attorney for another person have a fiduciary responsibility to the person’s heirs/beneficiaries (i.e., to save as much money as possible for the heirs to inherit) or is the POA’s responsibility only to the person for whom they are POA (i.e., making sure that person’s bills are paid and that he/she is well taken care of)?
Thanks for your question. The person holding the power of attorney owes a legal duty only to the person who gave him/her the POA. If you are concerned about financial abuse by the POA holder, there are remedies available to you, though those remedies are best sought through an attorney.
Alan S. Fanger, Esq.
110 Cedar Street, Suite 250
Wellesley, MA 02481
The person holding a power of attorney owes a duty only to the person who gave them the power, to act on behalf of that principal, within the terms of the POA.
Joseph M. Murray, Esq.
56 North Bedford Street
East Bridgewater, MA 02333-1173