Durable Power of Attorney A sibling and I were both given Power of Attorney…

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Durable Power of Attorney
A sibling and I were both given Power of Attorney over our mother’s financial affairs with the ability to act separately 2 years ago. My mother revoked my sibling’s power of attorney status after he had been executing stock transactions on her account without first advising her and me of his intentions.

The revoking of Power of Attorney ”devastated him” and he is trying various ”ploys” to have the status returned. He claims he is not able to consult with my mother’s stock broker, accountant, banker, insurance agent, etc. unless he has this status and that he is in violation of the law if he acts on her behalf or provides investment advise to her without it.

Is this true or is this a power play to have his ”power” returned to him?

2 thoughts on “Durable Power of Attorney A sibling and I were both given Power of Attorney…”

  1. Re: Durable Power of Attorney
    Nobody is going to speak with your brother about mom’s accounts if your brother is no longer the attorney-in-fact, and no he cannot act on her behalf. Why don’t you compromise and have mom give the power to you both but require all actions to be joint? This is a major pain in the neck, but it might be a compromise you can all live with.

    Good luck.

    Rick Bryan
    New York, NY

    Rick Bryan
    Richard Bryan Attorney PLLC
    350 1st Ave, 3E
    New York, NY 10010

  2. Re: Durable Power of Attorney
    First of all, your brother should not be consulting with your mother’s stock broker, accountant, banker, insurance agent, or anyone else for that matter. The POA was revoked. I doubt whether they will speak with him or give him advice on her behalf if they know the POA was revoked. You should make sure they all have a copy of the revocation.

    He can not “act on her behalf” without the POA. He can advise her all he wants, but if she doesn’t listen to him, that’s her choice. He has no power to make transactions or consult with any of the professionals.

    Since it is her wish that he not act on her behalf (obviously now she doesn’t trust him)then you are the only one who has that power, other than her.

    Finally, why do you need him anyway?

    Linda Subbloie
    Linda A. Subbloie, Esq.
    P.O. Box 9024
    New Haven, CT 06532

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