Legal Question in Wills and Trusts in Georgia
Prior to my father death in 2011, my brother received power of attorney and with draw all funds from the accounts total over $200,000. My father listed on his account his name and me or my brother name. My father Will listed me as the administrator of his estate. I have gone through Probate Court and obtain Executor or the estate. The attorney I have, sent a letter ot my brother requesting that all financial information be turn over as soon as possible in December 2012. What other action must I take in order to force him to submit the information?
2 Answers from Attorneys
You say you have an attorney, which is good. You should be asking him and not bypassing him. Presumably if he does not get a response, he'll either take your brother's deposition, file discovery, or subpoena him to court.
This sounds like its going to get very expensive very quickly. Powers of attorney end at death. The sole duty of the agent after death is to prepare a final accounting and turn over all assets to the executor of the estate.
The problem as I see it is that this seems to be either a payable on death account or a joint account. I don't understand how the designation on the account could be pay to you or brother if father passed. How would the bank or account holder ever decide?
Technically, your brother as agent had an obligation to use that money for your father, not to enrich himself. If the account was payable to you and your father, your brother should at least give 1/2 of the money back to you. However, if he spent it (due to a woman, alcohol, gambling or other problem), then good luck getting any of it back. If you are able to trace where any of the money went (like into a fancy house or cars), then maybe you can get a constructive trust imposed. That takes money and legal action though.
Almost 30 days (or possibly more) have passed. I would not delay any further - every day you delay is one more day in which your brother can dispose of the money.