My state is Indiana.
My elderly parents live in Colorado. I am one of 6 siblings who will inherit equal shares of their estate after they pass away.
One of my brothers recently relapsed into heroin addiction and has been regularly asking my parents for money. They have given him over $400,000 over the last 8 months. None of the other siblings were aware this was happening until a couple weeks ago. My dad is slipping further into dementia and my mom is frail, nearly blind, and in very poor health. We reached out to my parent's investment manager who says we need power of attorney before he can allow us to have any say in disbursements of their portfolio while they are alive. My father reluctantly signed the paperwork to give two of my brothers power of attorney, but will that be enough to prevent any further transfers without out our review and consent? Is there anything else we can do to legally prevent him from taking advantage of our parents?
Thank You,
My elderly parents live in Colorado. I am one of 6 siblings who will inherit equal shares of their estate after they pass away.
One of my brothers recently relapsed into heroin addiction and has been regularly asking my parents for money. They have given him over $400,000 over the last 8 months. None of the other siblings were aware this was happening until a couple weeks ago. My dad is slipping further into dementia and my mom is frail, nearly blind, and in very poor health. We reached out to my parent's investment manager who says we need power of attorney before he can allow us to have any say in disbursements of their portfolio while they are alive. My father reluctantly signed the paperwork to give two of my brothers power of attorney, but will that be enough to prevent any further transfers without out our review and consent? Is there anything else we can do to legally prevent him from taking advantage of our parents?
Thank You,