Legal Question in Wills and Trusts in New Jersey
Bonded
my sister was poa for my mother and she had to be bonded due to her trying to steal my mothers house. what does this mean and does it help me trace what the hell she did with my mom'smoney?
Asked on 4/22/09, 2:38 pm
1 Answer from Attorneys
Jonathan Chester
The Law Office of Jonathan S. Chester, Esq., LLC
Re: Bonded
This seems pretty unusual. I've never seen a case where someone acting under a POA was 'bonded'...normally that's only the case when a person has been appointed as legal guardian or conservator by the court.
If in fact your sister was bonded, essentially this means she had to purchase a bond [like an insurance policy] to protect the beneficiaries in the event she lost or stole your mother's assets. The good news is that if she stole the money, the beneficiaries can collect on the bond.
Answered on 4/22/09, 2:58 pm
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