So you’ve been asked to be someone’s power of attorney, or you’re thinking about asking someone to be yours. You might be wondering: what exactly does this person actually do on a day-to-day basis? Let’s walk through the real, practical tasks that come with this responsibility.
The Big Picture: You’re Stepping Into Someone’s Shoes
When you become someone’s power of attorney (or “agent”), you’re essentially stepping into their shoes to handle their affairs when they can’t. This might be because they’re traveling, in the hospital, or dealing with memory issues. The key thing to remember? You’re not making decisions for yourself – you’re making decisions as if you were them.
Durable General Power of Attorney
Daily Money Management Tasks
Paying the Bills
This is probably the most common task you’ll handle. You’ll need to:
- Pay monthly bills like utilities, mortgage, insurance premiums
- Make sure property taxes get paid on time
- Handle credit card payments and other debts
- Deal with unexpected expenses that pop up
Managing Bank Accounts
You’ll likely need to:
- Make deposits (like pension payments)
- Transfer money between accounts as needed
- Monitor account balances and watch for unusual activity
- Deal with bank issues or questions that arise
Handling Income and Benefits
Many people don’t realize how much coordination this involves:
- Ensure Social Security, pension, or disability payments are deposited properly
- File paperwork for insurance claims or benefits
- Deal with tax-related documents and payments
Investment and Asset Management
Making Investment Decisions
If the person has investment accounts, you might need to:
- Review investment statements and performance
- Make buy/sell decisions (usually conservative ones)
- Rebalance portfolios or adjust asset allocation
- Work with financial advisors or brokers
Important note: Unless specifically authorized, you generally can’t make risky investments or major changes to their investment strategy.
The Bottom Line
Being someone’s power of attorney means you’re taking on real responsibility for another person’s life and affairs. It’s not just signing a few papers – it’s ongoing work that requires attention, organization, and good judgment. But for many people, it’s also meaningful work that helps someone they care about maintain their independence and dignity during challenging times.
The most successful agents are those who stay organized, communicate well with family members, and never forget that they’re acting on behalf of someone else, not themselves.
Need help navigating the complicated world of POAs? Robyn has over two decades of expertise and is ready to help you. Schedule a consultation today to get started.
Legal Disclaimer. The information provided in this blog post is for general informational purposes only and does not constitute legal advice. No attorney-client relationship is created by reading or interacting with this content. Laws vary by jurisdiction and individual circumstances differ, so you should consult with a qualified attorney in your area for advice specific to your situation.
Legal and fiduciary services offered through Robyn Smith Ellis PLC.
Investment advice offered through Ellis Financial Group LLC, a Registered Investment Advisor in the state of Virginia.
Insurance products offered through Ellis Insurance Services LLC.
