Legal Question in Wills and Trusts in Florida
My mother died almost 4 years ago. My brother had power of attorney. He never sharred details with me except that he transfered her funds into his bank account in order to protect it in case she ever had to enter a nursing home etc... He invested her funds in the stock market according to his wife & almost doubled her money. The only info. my father had in his will regarding funds, is that any money would be split equally between my brother & myself after mom's death. My brother sent me a small fraction almost two years after mom died. His wife said that was all that was left after her care. My mom always lived well from my dad's retirement & soc. sec. checks without having to use her savings as far as I could tell. Is it too late to find out what is owed to me, how do I go about it, and I fear it would be too expensive to proceed. My brother will not return my calls. I'm heartbroken.
1 Answer from Attorneys
It is not proper for an attorney-in-fact (your brother under the power of attorney), to take the money out and put it in his own name. He likely broke the law at that point, unless the power of attorney specifically stated that he can take it for himself. Assuming that this money had stayed in her name, you would have to assess what would have been left at her death to see if this is worth it. You would have to open an estate in your mother's name and go after him to recover the money into the estate.
The law provides for a five year statute of limitations to file this kind of suit. The five years would be from the time he took the moneyfrom your mother, not your mother's death. You may have very little time, or be late already.
If you wish to explore this further, you can contact me at [email protected], or 561-368-4988. Please provide your location as well.
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