QUESTION

Do I have any right to stop my older brothers from depleting my fathers account money?

Asked on Oct 29th, 2011 on Estate Planning - Texas
More details to this question:
My father suffered a stroke five years ago that left him unable to make financial as well as day to day decisions. My elderly mother took over their finances. She is not capable of this responsibility. My father took care of everything regarding their finances their entire life. She is also from Japan and has severe difficulty in understanding the written content of contracts as well as other financial documents. My two older brothers have begun depleting my parent’s finances due to my mother’s lack of any financial education. Over the past five years they have milked her for over $500,000.00 minimum that I am aware of, but fear the amount may be much greater. One of my brothers even went so far as to obtain credit cards under my father’s name, then proceeded to run up over $100,000 dollars in credit card debt that my mother was forced to pay to prevent my father’s credit being damaged. He also talked my mother into giving him power of attorney over their assets (citing her inability to handle the finances), then sold off a large amount of my father’s stocks and took the funds made from the sales for his own personal benefit. My question is this: do I have any legal standing to step in and prevent them from completely extinguishing my parent’s portfolio, as well as my share of inheritance?
Report Abuse

2 ANSWERS

Ancillary Probate Attorney serving Dallas, TX at Burdette & Rice, PLLC
Update Your Profile
Yes, you have standing to do several things. First, consider discussing your concerns with your parents, as they are generally presumed to be able to make their own decisions, including the decision to revoke any authority that they gave to each other, or to your siblings. Second, you might discuss these issues with an attorney that practices in guardianship and/or conservatorship, which could bring your concerns to the attention of a Court that is able to stem any wrongdoing and correct any past malfeasance. Third, you might consider contacting Adult Protective Services, or a similar local agency that encounters issues of elder abuse and financial exploitation on a daily basis.
Answered on Nov 02nd, 2011 at 12:59 PM

Report Abuse
I strongly advise that you seek legal counsel immediately. You do have a right to prevent this from occurring, however, unfortunately you will mostly likely need to have an attorney assist you. Additionally, I would contact the local District Attorney's office and report what has happened. There could be criminal prosecution for what has already occurred.
Answered on Nov 02nd, 2011 at 11:51 AM

Report Abuse

Ask a Lawyer

Consumers can use this platform to pose legal questions to real lawyers and receive free insights.

Participating legal professionals get the opportunity to speak directly with people who may need their services, as well as enhance their standing in the Lawyers.com community.

0 out of 150 characters