Legal Question in Wills and Trusts in New Jersey

Financial Disclosure

My sister has made herself Power of Attorney and taken over all my elderly parents' finances. We don't know what she's doing with their money as she refuses to disclose anything and recently announced that they'll be ''no inheritance for anyone'' even though my parents have a home and assets. Is there anything legally we can do at this point as far as disclosure to see where there money is going?


Asked on 7/30/08, 10:23 am

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: Financial Disclosure

As POA your sister has a fiduciary duty to your parents to act in their best interest, not further her own agendas. You do not say if your parents are incpacitated and if they are you should consider the possibility of a guardianship proceeding. You alsohave the right to bring an action against your sister for an accounting of how she is handling your parents affairs. Before you consider litigation, check the public records (County Recording Office) to see if she filed a new Deed taking the house away from your parents, using the POA to sign it. If she has done this, get a copy and use it as part of your suit for the accounting. You should have an attorney assist you if litigation is required.

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Answered on 7/30/08, 1:04 pm


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