Legal Question in Securities Law in California

Re: What can I do if I think my sis is trying to cheat me out of inheritance?

The first question that arises is whether your father is still living. If he is, you don't have an inheritance, you have only an expectation of an inheritance, which is not a legal property right. Whether your father is still living also determines what laws apply.

If your father is still alive, one must ask whose money is in the account. Merely having signature power over an account is not dispositive of whose money it is. I assume the money is your father's and not your sister's or yours in any percentage or amount. If so, neither of you has any right to touch it, with or without signature power over the account, except upon his permission, express or implied. Signature power relieves the bank of responsibility, but not the taker of the funds.

Finally, the power of attorney you have is really the key. If the power of attorney is valid, and to the extent you are given authority, you have the right to use your father's money for the purposes set forth in the power. This is true whether or not you are on a signature card. The power of attorney, if properly drawn, gives you the full power to deal with your father's bank balances and other property. Again, your power is limited to what is expressly granted.

If the amount involved doesn't warrant retaining an attorney, I recommend that you at least consult with a bank officer (at a relatively high level, someone who understands powers of attorney) and try to get the problem resolved without legal action. If a significant sum is involved, you should do the foregoing AND retain an attorney who works regularly with elder abuse and elder fraud matters.

If your sister has actually committed fraudulent acts, you should seek legal advice without regard to the amount involved. You may be able to get a free initial review from an elder-abuse prevention service. Try contacting your local council on aging or a similar agency for a referral, or contact the district attorney's office.