Can I write a check from my relative's personal checking account for the amount spent and deposit that check in my checking account?
I know that keeping receipts for items purchased is very important.
I am the POA for my relative's accounts.
Thank you.
Let's take your example. The file would say "Expenditures for Month of May, 2022. In this would be your RECEIPT for personal items attached to a copy of the check you write yourself as POA on the account. This would hold true for ALL expenditures even if you hired someone to cut the grass at Mom's home.
Then at the end of May you do "May" for the file of "Monthly expenditures.
The May file will have all assets incoming listed whether pension or Social Security or anything else and it will also list all expenditure outgoing.
If you keep careful files and diaries you will be ready in court to defend at a second's notice what check was written when, to whom, and for what. You will have everything at your fingertips.
Treat each thing you do as someone suspicious is looking over your shoulder ready to call your actions and expenditures into question. Know you are prepared.
My files for my brother would have stood the test anywhere. And each Month he got a copy of every penny into his accounts and every penny out of them to put into his own file.
Good luck.
If you have questions about how to serve as POA then research the answers. That is easily done and you are doing A LEGAL duty, held to the highest responsibility as a Fiduciary.
This keeps your books clear of her items and leaves a precise paper trail of her legitimate expenditures.
Take or print a copy of the CC statement, highlight mom's items and staple the receipts to this with the check number, date and amount or even a copy.