Legal Question in Wills and Trusts in Texas

POA transferred funds meant for heirs to account he co-owned
Two weeks before my step-dad passed of cancer, his POA brought a notary from the bank (the same who had notarized the POA papers) to my step-dad's home. They had him sign papers which he thought were to give POA permission to sign checks for groceries, bills, etc.

However, as it turned out my step-dad actually signed to have POA put on his checking account with survivorship rights.

POA immediately moved the bulk of funds from my step-dad's savings account to the checking account.

So now POA has received monies that my step-dad had intended to go to his estate and divided per his will.

Am I correct in assuming that while this was underhanded, the POA hasn't actually broken any laws and there isn't anything we can do about it?

Asked on 6/05/07, 11:39 am

Peter Bradie Bradie, Bradie & Bradie

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Re: POA transferred funds meant for heirs to account he co-owned

Not quite. The PoA has a fiduciary duty, and that includes a prohibition against self-dealing.

Get an attorney ASAP.

Answered on 6/05/07, 11:57 am

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