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Selling at this point may not be a good idea, or may be, but you need advice and the POA is allowed to get this advice. and the cost is paid by the principal.
You should, if you are POA already be on her accounts as such. Funds from the sale would be placed in her accounts. That is to say the account is in her name, with you added as POA, the person who writes the checks signs with her name followed by yours as POA.
You should also have files and folders for everything and every receipt and records monthly of every penny into accounts and out of.
Your POA must be written so as to allow you to sell property for her.
Yes, this is HER ASSETS and it goes into HER ACCOUNTS.
The outcome of beneficiaries only pertains when and if she dies and then it is distributed along with the rest of the estate in the way her will dictates by her named executor.
Please see an attorney. You are undertaking a LEGAL fiduciary responsibility and are held, under the law, liable for knowing exactly how to do these things. And, again, your POA pays the Attorney out of your Sister's funds.
Your sister is allowed under the law to hold one house and still seek Medicaid help if she needs it. If you sell this house the money is her asset and will have to be spent down before applying for any governmental help with care.
If you are uncertain how to do all this you can also consider hiring a Licensed Trained Fiduciary. The elder law attorney will be familiar with them as they serve in absence of family POAs through the courts when state guardianship is required.
All of the proceeds from her house went into her bank account to be used for her care. We had all the checks made out to her name and deposited them into her account. My husband is named on her back account, so he can pay her bills.
The house would have remained empty unless we chose to rent it. We still had to pay taxes, utilities and upkeep on an empty house while those funds would be better spent on her care at a local facility. The lawyer recommended we sell the house and contents ASAP to preserve as much money as possible for her care. The sale should get her nearly three years worth of care.
Another consideration for timing might be the real estate market where her house is located.
Also, you did not state if your sister is able to handle her finances and make decisions for herself. I think if she has that mental capacity, she should be part of the decision making.
My MIL was not in charge of her finances for the past year as she was purchasing home and car warranties because she though they were bills. She also should not have been living on her own, but refused to go to assisted living. She fell several times which sent her to the hospital and she was discharged to a nursing home with memory care.
I agree with what AlvaDeer posted to you.
Make sure all your documents are legally in order.
Alternates are named in case the first person managing care transitions first.
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