QUESTION
Do I have to do what the power of attorney tells me to?
Asked on May 23rd, 2013 on Estate Planning - Colorado
More details to this question:
16 years ago, my grandmother had her monthly income direct deposited into my bank account. I have been handling her finances since. Both of our names are on the checking account. About 2 years ago, my grandmother's son became the power of attorney, which includes financial. He has not had the direct deposit changed, even though I have asked to. Do I have to do what he tells me to do with the money, or since it is in my checking account, may I continue to take care of my grandmother as I see fit?
9 ANSWERS
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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This is a mess. You can do what you want with a joint account. The potential problem I see is that your uncle could claim elder financial abuse, if you are not careful. I would try to work with him, to the extent that the two of you can agree and cooperate. If this is not possible, you have two alternatives that I can see. You can withdraw all money in the account that is yours and turn the remainder over to your uncle, or you can retain a lawyer and insist that all communications be handled through the lawyer. Unless you believe that your uncle is not properly caring for your grandmother, I would see if you can work something out.
Answered on May 24th, 2013 at 1:52 AM
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You will want to sit with an attorney asap. This will depend on how the account is titled and what the power of attorney says.
Answered on May 24th, 2013 at 1:14 AM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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Did she have legal capacity when she named him POA? If yes, then she had her reasons, and yes, he is in charge. This does not mean you have to do anything; he needs to take charge and change the way her finances are handled. You should cooperate, but it's his problem.
Answered on May 24th, 2013 at 1:08 AM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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Your power of attorney expired upon the issuance of a new power of attorney to someone else. Advise the bank to have your name removed from the account.
Answered on May 24th, 2013 at 1:07 AM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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Tell him to move the money now or take your name off the account. He has the power and he is the one that should be handling the money, not you. You are just waiting for a lawsuit when he says you didn't handle something properly.
Answered on May 24th, 2013 at 1:00 AM
Thomas Edward Gates
You need to follow the direction of the Power of Attorney.
Answered on May 24th, 2013 at 12:46 AM
Business Law Attorney serving Livonia, MI
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Gerald A. Bagazinski
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Yes. He has power of attorney. I would segregate your funds and your grandmother's immediately and turn over control to him. If you disagree, please see an attorney. If you have any questions, please contact me.
Answered on May 24th, 2013 at 12:38 AM
Estate Planning Attorney serving Wilmington, DE
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Reger Rizzo & Darnall, LLP
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If he is appointed agent he has control.
Answered on May 24th, 2013 at 12:36 AM
Yes, you should follow the instructions of the agent. However, this type of situation is rife with the potential for conflict, so you should also go visit with an attorney specializing in estate planning and not rely on any advice from the internet.
Answered on May 24th, 2013 at 12:32 AM