Legal Question in Wills and Trusts in Texas

POA and CD

My brother had financial POA for each of my parents. My parents' wills divide everything equally among their children. They had, among other assets, a joint CD in amount of $70,000+ with each of their children listed as designated beneficiaries with equal share of the monies. My Mom passed away in Sept 07; my brother removed her name and put his name on CD via POA along with my dad. My dad passed away in Dec 07. My dad's name has now been removed from CD, the beneficiaries have been removed, and the CD is now only in my brother's name. The bank now considers it his CD. Can someone with a POA change accounts to where they become the sole owner of the account and has sole claim to the monies in the account?


Asked on 6/04/07, 3:04 am

1 Answer from Attorneys
Keith Engelke Law Office of S. Keith Engelke

Re: POA and CD

You need to see a lawyer about this. Whether your brother has the power to remove the names of the other beneficiaries depends on the language of each the powers of attorney. You and your siblings may have a claim to the funds under the wills. Again, you need to see an attorney to review the wills and perhaps probate them.

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Answered on 6/04/07, 7:37 am


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