QUESTION
How can a person with POA release his father’s funds from the bank to pay for his father’s needs?
Asked on Jan 10th, 2014 on Estate Planning - California
More details to this question:
My father in law moved from one city to another 150 miles away. Even though his son has power of attorney, the bank will not release his info to him. My father in law has a lot of medical problems and the old city is 150 miles away which makes it difficult for him to travel there. What can we do to access his money so we can pay for his needs?
10 ANSWERS
With a POA he should be able to access the account, take the POA to the bank and talk to them.
Answered on Jan 15th, 2014 at 3:31 PM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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There are ways. If Son's POA for father is valid and father still wants him to act as his agent, a basic way to do this is to have father withdraw all his money from Bank and deposit it in new accounts in the new city, where he and son can go into the bank together and set up the accounts. He should NOT have to use joint accounts; just deal with a bank that will work with the POA.
Answered on Jan 13th, 2014 at 7:39 PM
3 Awards
If the bank will not accept the power of attorney, it may be necessary to establish a guardianship through the court system. This information is only intended to give general information in response to an inquiry. It does not establish an attorney client relationship. This response is only based upon the limited facts presented and is merely intended to assist you in determining if you should contact an attorney to provide you with legal advice.
Answered on Jan 13th, 2014 at 7:38 PM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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Has the son provided a copy of the POA to the bank? Is the POA a durable power of attorney? Did dad open the new account himself? First, son needs to provide a copy of the POA. If he has done that and the bank still won't cooperate, ask the bank what it needs to let son access the account.
Answered on Jan 13th, 2014 at 7:38 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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Your father can write a check to himself and deposit into a new bank account closer to himself, or make the withdrawal in the form of cash from an ATM, or go to the local branch of his bank and have the account transferred there or put his son on as a joint signer of the account.
Answered on Jan 13th, 2014 at 7:37 PM
Trusts and Estates Attorney serving Troy, MI
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Barron, Rosenberg, Mayoras & Mayoras, P.C.
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Get an attorney and the attorney can provide an attorney certification of trust and work with the bank.
Answered on Jan 13th, 2014 at 7:37 PM
Presenting the bank with the document creating the POA, showing appropriate identification, and allowing the bank to make a copy of both should be all that is needed.
Answered on Jan 13th, 2014 at 7:37 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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If the bank is not working with you, it is time to find another bank that will or to get an attorney to pressure the bank to move forward.
Answered on Jan 13th, 2014 at 7:37 PM
Probate Attorney serving St. Louis, MO
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Edward L. Armstrong, P.C.
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I am presuming you showed the bank the power of attorney document. I guess you will have to file an action against the bank to compel them to release the funds. You will have to pay the filing fee for this but you should be able to recover this from the bank once the action over. You will need to retain counsel to do this. You should ask the bank to pay the attorney fees - they may or may not be obligated to pay these.
Answered on Jan 13th, 2014 at 7:37 PM
2 Awards
Ask the bank to review the POA and give a determination on why they are not honoring it. Make sure it gets to their legal department. If the POA is not valid, you will have to go to court and get a conservatorship.
Answered on Jan 13th, 2014 at 7:36 PM