What accounting can I legally ask my brother for since he holds the Power of Attorney of the estate of our late father?
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What accounting can I legally ask my brother for since he holds the Power of Attorney of the estate of our late father?
My sister and I would like to see income, expenditures how Dad’s money was spent. My brother borrowed a large sum of money from the estate with a signed note he would repay it and had credit cards in Dad’s name which were for the sole use of Dad’s upkeep while alive. We believe funds were not repaid and/or misused. Can we ask for copies of the credit card statements, income tax returns and general expenses from him? What other rights do we have?
Asked on October 24, 2013 under Estate Planning, Alabama
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 10 years ago | Contributor
First, let me explain that a Power of Attorney dies with the person for whom it is intended. So your brother is the Administrator or Executor of the estate. Generally speaking, a settlement is an accounting of the assets that have been collected and the debts that have been paid. It typically includes a full or partial distribution to the heirs or beneficiaries. Alabama personal representatives must make annual settlements of their administration. But if you believe that he acted improperly during the time he was a POA and even now, you can challenge his acts and claim a breach of fiduciary duty. Such a challenge would allow you to lay bare all the documentation. Good luck.
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