Legal Question in Wills and Trusts in Texas
My mother died and my brother had power of attorney. There is no valid will because she had Alzheimer before we realized it and of course couldn't get one done.
My question is does he still have the only access to her bank account and property? My sister and I are at at lost and don't know how to proceed. thanks
2 Answers from Attorneys
I'm sorry to learn of your mother's passing. To answer your question, no, your brother doesn't have access to her accounts under the power of attorney--the power of attorney dies with the power grantor (your mother.)
If your mother had set up her bank accounts as "payable on death" (POD) "transfer on death" (TOD) or "joint tenancy with right of survivorship" (JTWROS) then whomever she signed as the beneficiary would receive those funds. As for her other property, how to handle it depends on what is there.
Here are your next steps:
1. Compile a list of your mother's assets: bank accounts, cars, houses, and anything of significant value.
2. Compile a list of your mother's liabilities: credit cards, medical bills, Medicaid recovery, etc.
3. Obtain a death certificate
4. Notify all financial institutions of her death, and ask if there is a beneficiary designation. If so, then the bank will pay out according to the designation. If there isn't one, then note that on the asset sheet from step one.
How I handle estates depends on what you find out after your homework assignment. There are a number of tools to use, but I can't tell you which ones to use, as the appropriate procedures are fact specific.
no POA is not valid after death..so call a lawyer if there are any assets to worry about