What makes for a valid Power of Attorney (POA) Accounting?

Elements to a valid POA account reviewed – Standing for financial exploitation reviewed. Thulin v. Thulin, Filed January 2, 2018, A17-0696 (Minn.Ct.App. 2018). Daughter was made POA for mother. Son challenged daughter’s use of the POA asserting financial exploitation of a vulnerable adult under Minn. Stat. § 626.557 Subd. 20, “other relief” under Chapter 523.26(a) and for an accounting as POA. The district court dismissed the financial exploitation case due to lack of standing. The court found that standing requires some special legal relationship. The appellant was merely a son. He was not a guardian or trustee nor was there any other special legal relationship with the mother that would give her son standing to bring such a claim on his mother’s behalf. But appellant adds that under Chapter 523.26(a) where any interested person (524.5-102 Subd. 7) can bring a claim for an accounting or “other relief” that such statute grants standing to bring the exploitation matter as “other relief”. The appellate court did not squarely address the argument because the claim for “other relief” was too vague and was therefore properly dismissed. The district court ultimately found that the expenses that were objected to by brother were in fact valid expenses therefore the objections were dismissed. But the case did provide some guidance on what is a valid accounting. This court found that a valid account for a POA includes:

1)         An accounting signed under oath;

2)         Provides start and end dates for the period the agent acted as POA;

3)         Provides the beginning and ending balances of accounts that are accessed                             by the POA;

4)         Lists all transactions involving those accessed accounts;

5)         Provides bank records for those accessed accounts;

6)         [Explains reasons for certain transactions and reimbursements made]                                   (arguably fact specific to this case).

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This entry was posted in 523.26, 626.557, Accounting, Financial Exploitation, Power of Attorney, Standing. Bookmark the permalink.