Legal Question in Business Law in California

Re: Limited power of Attorney-in fact

You would need a conservatorship over her estate. Contact me directly.

Re: Limited power of Attorney-in fact

Who says your sibling is psychotic (or that the psychosis came on "suddenly")? And even if she really is psychotic, who says she is incompetent to make her own investment decisions?

Without more facts, I don't see why you can (or should) have any say in what your sibling's broker does.

Re: Limited power of Attorney-in fact

I believe what you are looking for is a conservatorship. You will need to get a report from a licensed professional stating the issues and problems. This will also require a HIPAA authorization, but if your sibling is incompetent, this may also require Court intervention.

I believe our office can assist you as we specialize in Estate Planning, including issues with dimentia and alzheimer's.

If you would like to discuss this matter further in a more private forum, please feel free to contact me directly at the email address provided by LawGuru or through our firm�s website located at PasadenaEstatePlanning.com

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Re: Limited power of Attorney-in fact

You can act on his behalf with a power of attorney, which he can properly give only when he is 'competent' and rational. Other than that, you'd have to go to court to obtain a conservatorship or guardianship over him, taking time and money to obtain. Feel free to contact me if serious about getting legal help in this.

Re: Limited power of Attorney-in fact

You may indeed be able to get a conservatorship for your sibling as Mr. Linden and Mr. Nelson suggest. Bear in mind, though, that if the court creates a conservatorship you (or whoever else the court selects) will become her conservator on an ongoing basis for all purposes. There are quite a few legal requirements you will have to meet, and many legal duties you will have to perform. All you asked about was giving instructions to her broker. Acting as her conservator may be a much bigger task than you are prepared to take on.

You should also bear in mind that she will be able to argue that she doesn't need a conservatorship and/or that someone else should be her conservator. Other family members (or even non-relatives) may also seek to become her conservator instead of you.

You posted this question under business law, but conservatorships are a creature of family law. If you want to examine this option further you should re-post your question under that category.

Re: Limited power of Attorney-in fact

Psychosis does not equate with incompetence. I am inclined to side with Mr. Hoffman. We don't know all the facts here, but I'm inclined to suggest that a very viable alternative for you is not to become involved. Being a conservator is a nightmare of responsibilities, and brokers can get instructions from better and more legally-acceptable sources that a sibling if "instruction" is needed.