Can a power of attorney sign his name on all big assets?

My brother was power of attorney for my dad. When my dad passed I found out that my brother sign his name on all the big assets. I thought power of attorney was not supposed to take gifts like a form of payment. I have a trust in the will that needs to be set up but there is nothing to support my trust since he stole all the big assets and left me nothing.

Asked on July 16, 2012 under Estate Planning, Florida


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

I am so sorry for your loss and for the situation.  Generally speaking, there are two types of POA's: one for a limited purpose and one for a general purpose.  It sounds as if your brother had the general purpose.  Now, he can do a lot woth that - and it seems that he did - but he can not "breach" his fiduciary duty and dissipate assets.  So speak with a lawyer in your area as to your next step here.  Good luck.

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