Quote:
Originally Posted by retiredguy123
The issue of liability is if the bookkeeper or CPA is managing a person's money who is mentally incapacitated. They need to make financial decisions that could be challenged by family members, a court, or another entity. That is why it is important to simplify your finances as much as possible before you become incapacitated. I asked several attorneys if they provided this service, and every one said no, and that they could not recommend anyone.
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There should be no financial decisions by the bookkeeper / accountant. It is simply a bill paying service. If the person was or becomes mentally incapacitated then someone else should be stepping in to make decisions which would include management of the contract for the bill paying service.