A donee’s duties vary, depending on what types of powers the principal granted. Some main responsibilities of a POA donee can be named as below:
- Signing documents for specific transactions such as loan papers for a home or car
- Doing banking for the principal. An agent might have the power to sign various documents that require the signature of the principal and could represent the principal in front of the Internal Revenue Service.
- Making gifts or donations on behalf of the principal, if given the specific authority to do so in the power of attorney document, or may have the power to do all of the above and more
- Act at all times in the best interests of the donor, continue to act for the principal even when he/she becomes legally incapacitated
- Keep full and proper records of everything you do. Any interested person can insist on seeing these records.
What can’t a donee do?
- Claiming for your part from the principal’s assets. Even if they believe they are a beneficiary of the donor’s will, having a power of attorney gives them no entitlement to the donor’s assets.
- Asking payments for their work, except for any out-of-pocket expenses directly connected with carrying out the power of attorney. The done will need to keep receipts to prove these costs.