The First 30 Days as an Agent

You’ve just been named — or just started acting — under a Power of Attorney. Here’s what to gather, who to notify, and what to set up in your first month.

Week 1 — Read, gather, secure

Locate the signed original Power of Attorney document and note where it’s kept.

Read every page. Highlight what powers you have, when they take effect, and any limits or special instructions.

Confirm it’s in effect. Some Powers of Attorney work immediately; others “spring” only after a doctor certifies incapacity. Know which yours is.

Get copies made — several. Some institutions will want to see the original or a certified copy.

Check for companion documents: healthcare directive, will, trust, insurance policies, deeds.

Secure the documents — a fireproof box or safe place the right people know about.

Week 2 — Understand the landscape

Inventory accounts: checking, savings, retirement, investments, credit cards, loans, mortgage.

List recurring bills: housing, utilities, insurance premiums, subscriptions, medical payments.

List income sources: Social Security, pensions, annuities, rental income.

Find the professionals: attorney, tax preparer, financial advisor, insurance agent — names and numbers.

Talk with the principal (if able) about how they like things handled. You’re carrying out their wishes, not yours.

POA Caregiver

Week 3 — Notify and present

Visit or call the bank. Bring the Power of Attorney document and your ID. Ask what they need to add you as agent on the accounts. (Our “Talking to Banks” guide has scripts.)

Notify other institutions as needed — investment firms, insurance companies, pension administrators.

Tell the family. A short, factual note to siblings/relatives about your role prevents suspicion later.

Never sign just your name. Sign as agent — for example: “Jane Smith, as agent for Robert Smith.” Ask each institution for its preferred format.

Week 4 — Build your system

Start a decision log: date, what you did, why, and any money involved.

Set up an expense record and keep every receipt. You may be required to account for what you’ve done.

Keep money separate — always. Never mix the principal’s funds with your own.

Set a monthly review: 30 minutes to reconcile accounts, file receipts, and update the log.

Know your duty. You’re a fiduciary: act in the principal’s best interest, follow the document, keep records, and never self-deal.

When to call a professional

An institution refuses to honor the Power of Attorney and won’t explain what it needs.
Family conflict about your role is escalating.
You need to sell property, manage a business, or make gifts — read the document carefully and get advice first.
You suspect someone else is misusing the principal’s money.

Ready-made versions of the logs and trackers above are in the Certified POA Caregiver™ Program and the Financial Recordkeeping Pack at poacaregiver.com.