Power Of Attorney For Family Trust?

[Allayne]

Parents would like my help to manage their CD's within their living trust.  I am successor trustee to their trust, but that wouldn't take effect until incapacitation.  My mother is the one who managed the money and she is unable due to dementia.  My DAD is not incapacitated, but has no experience with financial stuff and is overwhelmed.  I have Power of Attorney for their Finances, but the bank is saying they need a statement in the TRUST that gives the trustees(parents) the ability to appoint a Power of Attorney for the trust.  They are saying the POA my parents have is only for assets outside the trust(very minimal, if anything). The current POA does refer to being able to manage trust assets, so I am confused.  Or alternately, is the best way to have my parent's resign as trustees.  Thank you,

[Reod]

I would need to see the documents and talk to the bank to really understand what is going on. This is a little more complicated than it seems.

But if the POA of states specifically that you have the ability to manage the property in the Trust, that might help but you would need to confirm this with the bank -- more or less specific language that states you can act as trustee in his stead. In the alternative, if your father is not capable of managing the trust, maybe he should relinquish his role as Trustee and give it to you. If he is not incapacitated, he could always take back the position if you got out of hand!

good luck.