Legal Question in Wills and Trusts in Illinois

You should get legal advice specific to the situation, but generally an agent under a power of attorney can do all the things that the principal could do for his or her self, unless otherwise restricted. So, in theory, the principal could have dealt with the assets leaving nothing to which the POD designation would apply and the agent could do likewise.

This is a situation in which there may be other considerations, such as taking advantage of an elderly or disabled person. So, there may be more to explore, although if the agent was properly named then that authority will be more difficult to question.

Seek the advice of a probate attorney in the area where this took place. If in Illinois, you may also seek the assistance of the attorney general's office in the case of elder abuse.

So long as the principal is still alive, the POA probably has the legal authority to liquidate the POD account. Whether this action is appropriate or may constitute financial fraud is an entirely different question.