Does sibling with POA have to provide specific expenditures occurred before death to siblings after death?
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Does sibling with POA have to provide specific expenditures occurred before death to siblings after death?
An insurance claim check from fire was
spent to remodLe prior to death. Since
death, the other siblings want specific
expenditures on how the check was
spent. Does POA have to provide this
info?
Asked on November 18, 2017 under Estate Planning, South Carolina
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
The attorney-in-fact or agent (that is the term for the person granted authority by the POA) does not have to provide this UNLESS a legal action is brought by an executor or administrator/personal representative of the estate, or an(other) heir, claiming the agent misappropriated for him/herself monies which should have been used for or gone to the estate. Attorneys-in-fact/agents are bound by a fiduciary duty to NOT use the money of the person giving them the POA for their own benefit, or "pocket" it themselves. If a reasonable claim is asserted that the agent took money which should otherwise be in the estate for distribution to the heirs, an heir or the estate's representatives can bring a legal action (lawsuit) in which they allege wrongdoing and the agent can be forced to justify what he/she did with the money.
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