As Sole Agent for My Mom's Durable Power of Attorney for Finances, Must I Report to My Brother?

To know whether you are legally required to provide financial reports to anyone, including your brother, turn to the power of attorney document itself. You don't have to make reports unless the document explicitly requires it. If the document is silent on the matter, your brother is out of luck unless you choose to share information with him.

However, you might want to take a step back and assess whether you should extend an olive branch to your brother. Imagine how you would feel if the ledger book was solely in his lap instead of yours. Depending on your situation, you might wish to soothe your brother's mind by sharing financial details with him.

Even though you might not be legally required to share information with your brother, you might look suspicious and maybe even devious if you squeeze him out. If you choose not to share and your brother believes you are doing something illegal with your mother's finances, he will have to turn to a court for help.

No matter what the power of attorney document says about making financial reports to others, you do have a legal duty to keep accurate and separate records for all transactions you make on your mother's behalf. Act responsibly and keep careful records—whether you expect anyone to see them or not. That way, if someone alleges that you've acted improperly, you can show the court accurate records to prove you've been acting in your mother's best interests.

If you believe that state law or the power of attorney document requires you to disclose records to your brother, speak to an estate planning lawyer in your state.