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Jane was one of five
children. Her mother, Ellen, was 87 and had been ailing
for some time.
Jane’s oldest brother, Bob, had been
given a power of attorney by his mother to act for her.
Under the power of attorney, Bob had broad powers. He also
had access to all of Ellen’s accounts. The rest of the
family had no idea that Bob was using his access to steal
his mother’s money.
Jane and her siblings started
to become worried because Ellen kept complaining that she
didn’t have any money. The children knew that when their
dad died several years ago, he left more than $500,000 in
assets and a house that was debt free.
When they
began to look into it, they discovered Bob had been using
his mom’s money for himself over the past several years
and that the money was almost gone.
Jane decided
that she needed to consult with a lawyer to see what could
be done.
The lawyer explained that the power of
attorney allowed her brother to take action to benefit his
mother, but it did not allow him to use the property for
his own needs.
Jane hired to the lawyer to look
into the matter and found that most of her mother’s money
had been spent. In addition, Jane’s mom had signed social
security and pension checks over to Bob. Bob claimed they
were gifts. But when Jane asked her mother about these
gifts, Ellen said that Bob told her she had to sign the
checks over to him. That she had no choice. Ellen said she
did not want to cause trouble in the family so she went
along.
Jane talked with the lawyer about what
options might be available to get the money back. Her
lawyer explained to her that the only recourse was to
demand that Bob return the money and to sue him if he
failed to pay back the cash. Jane knew that suing Bob
would be a lengthy, time-consuming and expensive legal
proceeding, and that there was no guarantee of success.
The lawyer explained that, many times, elderly parents
trust their children and rely on their judgment and do as
the children suggest. Sometimes, as in Ellen’s case, the
power of attorney is used wrongfully. Even worse, it is
often the case that the assets have been spent and there
is no way to recover them.
The lawyer explained to
Jane it would have been better to have employed more than
one child to oversee Mom’s affairs. This approach would
have provided some checks and balances.
Jane went
back and discussed the matter with her mother and her
siblings. In the end, Ellen just was not willing to sue
her son.
Bob became scarce once the game was up and
the other children had to step in to help. The worst part
was Ellen’s sadness and disappointment with her son during
her last years.
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