My brother and I have dual power of attorney over my mother's financial affairs. I was out of the country when my brother sold my Mother's house. This was understandable since she moved to a nursing home. However, it was my understanding that the proceeds from the sale were deposited back into her Merrill Lynch portfolio. I have recently learned that my brother deposited the proceeds into an account in his name only and purchased land with some of the proceeds. Since I am also a POA for my mother, what legal right do I have to return those assets to my mother's account?
1 Answer from Attorneys
File a Petition for Guardianship under Article 81 of the Mental Hygiene Law. If you have stated the facts accurately, the judge will appoint a guardian who will recover the proceeds of the sale of the house on behalf of you mother. Unfortunately, the end result of this will probably be the same as giving the money to the nursing home. This is a very complicated situation. In my experience it would be very, very unusual for a title company to allow your brother to sell your mother's house without your participation.
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