POA responsibilities to inheritors

[pagen]

What is the name of your state? South Dakota

My grandparents gave a grand niece power of attorney (durable I believe), several years ago. My grandfather died 1 year later. Two years after that, grandma died. The grand niece who had POA is not an inheritor. Do the inheritors, (the grandchildren), have any rights for an accounting from the POA of her actions while she had POA and the grandparents were alive?

 

[BlondiePB]

What is the name of your state? South Dakota

Mu grandparents gave a grand niece power of attorney (durable I believe), several years ago. My grandfather died 1 year later. Two years after that, grandma died. The grand niece who had POA is not an inheritor. Do the inheritors, (the grandchildren), have any rights for an accounting from the POA of her actions while she had POA and the grandparents were alive?

Have the Personal Representative/Executor make the former POA provide an accounting. The Personal Rep can also, with the letters of testamentary/administration, acquire the bank records him/herself.

 

[bakws]

Dear BlondiePB: What if the Personal Rep and the POA holder is one in same? Just curious. Thanks b.

 

[BlondiePB]

Dear BlondiePB: What if the Personal Rep and the POA holder is one in same? Just curious. Thanks b.

If this is your problem, start your own thread. The poster here has not stated whether or not the PR and the no longer POA are one and the same.

 

[pagen]

The POA is in fact also the personal representative---the grandchildren reside in California, while the grandparents and grand niece are in South Dakota...

The grandparents' will stated that property, etc., went to each other upon the others' death. No mention of inheritors beyond that. Their son predeceased them, so grandkids became inheritors.

On the advice of the grandparents' attorney, (who also became the estate attorney), grandkids signed forms giving POA status as personal representative, which was explained to us as the person who could most easily pay the outstanding debts/bills of the grandparents. We were unaware it actually meant more than that and now the personal representative won't settle estate without grandkids waiving rights to an accounting.

Now we recognize we may have made a bit of a mistake...

 

[BlondiePB]

The POA is in fact also the personal representative---the grandchildren reside in California, while the grandparents and grand niece are in South Dakota...

The grandparents' will stated that property, etc., went to each other upon the others' death. No mention of inheritors beyond that. Their son predeceased them, so grandkids became inheritors.

On the advice of the grandparents' attorney, (who also became the estate attorney), grandkids signed forms giving POA status as personal representative, which was explained to us as the person who could most easily pay the outstanding debts/bills of the grandparents. We were unaware it actually meant more than that and now the personal representative won't settle estate without grandkids waiving rights to an accounting.

Now we recognize we may have made a bit of a mistake...

If the heirs (grandchildren) want an accounting (a good idea), they need to hire their own attorney in SD (not the estate attorney) and have the PR produce a "formal" accounting.

 

[pagen]

Assumed that was the next course of action-but wanted to know if we can also request an accounting of her time as POA, (before the grandparents died).

I've been finding that not all attorneys', regardless of their alleged specialty, necessarily know their field of expertise. So I thought better to be informed on the law and I can find nothing about this topic in the South Dakota Statutes.

Thankx for the help.

 

[Dandy Don]

Do the wills name ANYONE as beneficiaries? If grandchildren are not specifically named as beneficiaries, they are not inheritors and have no right to receive anything from the estate. Are your parents still alive?

Asking the POA to account for her time is nitpicking and irrelevant--she is not charging the estate on an hourly basis.

DANDY DON IN OKLAHOMA ([email protected])

 

[BlondiePB]

Assumed that was the next course of action-but wanted to know if we can also request an accounting of her time as POA, (before the grandparents died).

I've been finding that not all attorneys', regardless of their alleged specialty, necessarily know their field of expertise. So I thought better to be informed on the law and I can find nothing about this topic in the South Dakota Statutes.

Thankx for the help.

You are welcome. Until you have a formal accounting, you will not know whether or not the POA paid herself, which she is entitled to do. Depending on what were the needs of your grandparents (i.e. things that are very time consuming), her time can add up very quickly or she could (with could being the operative word) charge a percent of the estate for being POA. She is also entitled to be paid as the executor.

Like all occupations, some are much better than others. It's best to find an attorney that only practices one or two areas in law.

 

[pagen]

Do the wills name ANYONE as beneficiaries? If grandchildren are not specifically named as beneficiaries, they are not inheritors and have no right to receive anything from the estate. Are your parents still alive?

Asking the POA to account for her time is nitpicking and irrelevant--she is not charging the estate on an hourly basis.

DANDY DON IN OKLAHOMA ([email protected])

I mistyped-(assume that takes the place of misspoke in the internet world...), when I typed "asking the POA for an accounting of her time".
What I should have typed is that we would like her to account for her actions as POA.

This same person is now the personal representative, and we, the inheritors, cannot get her to submit an accounting of the probate estate, though it has been 22 months since probate began. As the estate is that of a "working man", not some financial guru, it just shouldn't be that complicated.

The fact that she won't send an accounting makes everyone question what her actions were prior to probate, when she held POA.

Original will left property from spouse to surviving spouse then to only child, who predeceased them. Grandchildren became inheritors through lineage and survivorship.

 

[pojo2]

How much is this estate worth?

Let's say you get the accounting and it looks dubious, do you know how hard and EXPENSIVE it will be to do anything about it now?

Let's say that during the period of holding the POA the Niece cashed out a CD for 25K and you can even trace it to her bank account, now PROVE that the grandparents did not tell her to do so to compensate her for caring for them. Let's say 3 weeks later she cashed a check for 5K PROVE she did not spend it on their care.

Okay what I am trying to tell you is yes you may even be able to prove these things but it has been almost 2 years, likely anything she could get her hands on has been spent and the beneficiaries may just end up with a HUGE Atty fee to pay only to find out their 'ain't' nothing there anymore.

 

[BlondiePB]

The fact that she won't send an accounting makes everyone question what her actions were prior to probate, when she held POA.

Fiduciaries that properly handle estates have absolutely no quams about providing an accounting. Hire an attorney to force the PR to produce a "formal" accounting.