What is the name of your state? NJ
I am the executor for my mother's estate. My sister had Power of Attorney while my mother was alive. My mother had a bank account which she added my sister to so that bills could be paid when she was incapacitated. I do not believe this was a P.O.D. account, but am unable to find out. All funds in the account were my mother's. Other accounts were set up as P.O.D. accounts, so my mother knew what she was doing regarding leaving money to heirs in general.
Not long after my mother's death, my sister removed all the money for her personal use and closed the account against my instructions to freeze all accounts until I could get legal advice. Information I have seen is somewhat confusing. She claims the money is hers because her name was on the account too and she is the sole survivor. As I understand it, the person with P.O.A. must return funds of the person they had P.O.A. over to the estate after their death and cannot seize them for personal use.
While I do consider her actions unethical, I am not clear over the legality of her move. All estate assets other than the house are to be divided equally among the five beneficiaries according to the will I must execute. Both my sister and I are among them. The amount in question is approximately $16,000.
What is the name of your state? NJWhat is the name of your state?