Legal Question in Legal Ethics in New York
When Dad was alive,he set up accounts for mom using my S.S. #,joint tenant,with rights of survivorship. Each year he would give me a check to cover any capital gains tax that occured. Dad is gone and I am handling all stocks,c.d.'s,and bonds under the same provision,including payment of any incurred tax. All correspondance,statments,etc. are mailed to my home. Any interest is mailed directly to mom,with the principle left under my manipulations. My sister has "power of attorny",and is a lawyer herself,insists on reviewing all my movments and stating that she has this right. My question would be : does she have this right,even though the funds are under my s.s. # with joint tenant,with rights of survivership?
1 Answer from Attorneys
Yes. As power of attorney she is acting as the agent for your mother. Your mother, as a joint tenant, has the right to know about her money.
Mike.
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