What happens if one co-executor with a power of attorney emptied their parent’s bank account in anticipation of death?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

What happens if one co-executor with a power of attorney emptied their parent’s bank account in anticipation of death?

My sister with power of attorney withdrew our mother’s savings the day before she died. The estate now has no cash to pay bills, but only the family home remains. My sister and I are co-executors of my mother’s will. What will the probate judge do?

Asked on July 29, 2010 under Estate Planning, Texas

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 13 years ago | Contributor

You should speak with an attorney. Depending on the exact circumstances and the nature of your sister's power, it is possible that she might be forced to return the money (and possibly other funds she's taken previously); it really does depend on the wording of the power of attorney, the circumstances under which she obtained it or it was given to her, etc. Assuming the amount of money was more than de minimis, you should consult with a trusts and estates lawyer who can evaluate the entire situation for you and advise you as to the possible rights, remedies, costs, and consequences. (For example: if brought to the probate court's attention, is there a chance your sister, if her action was improper, could be charged with a crime? And if so, are you prepared for that?)


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption