Is this power of attorney abuse?

[jvfrank1980]

Live in Iowa, Uncle from Pennsylvania.


In 2001, I was notified that my uncle was put into care at a older persons home and was deemed demented, and not able to make his own choices anymore. A few months later I received a letter from his power of attorney stating that he had an amount of money in which my brother and I would receive from his will when he passed. He gave me a break down of his money, and one of the moneys included an annuity in which I was the sole beneficiary, there was also an IRA and some other kinds of funds. A few years went by and we talked here and there, then in 2003 the POA told me he would be investing my uncles money into some other fund to try to make more money. He assured me all beneficiaries would stay the same. This past year my uncle passed in February, at that time the POA called and said there would be a one hundred and nine thousand dollar inheritance tax?? He also said there was 2 annuity's and an IRA with beneficiaries and he would let me know who they were, I thought to myself shouldn't he know who they were?? Three months later he said he found out that on the large annuity that I was still the sole beneficiary and that the other moneys of my uncles estate would be split 50/50 between me and my brother according to my uncles will. I have heard little from the POA since then. So I sent him a letter 2 weeks ago asking him how the annuity would be sent to me, threw him or threw the company? I had not heard from him so today I decided to call the company, nationwide. I gave them the annuity account numbers and they said I was not the beneficiary and that the beneficiary was my uncles estate, they said they received a testate or something that sounds like that they wouldn't say from who though, I asked if I ever was the beneficiary and they said they couldn't tell me. Is it possible he switched it? Why would he tell me I was the beneficiary if he knew I was going to find out in the end? Does the POA have to give the state of PA a break down of my uncles will, and to whom and how much to whom? Does it sound like something fishy is going on here or am I just jumping the gun, also is it possible nationwide is wrong about whom the beneficiary is? Also curious how much money from my uncles estate does the POA and the executor of the will receive and do they get a certain percent, if so is it off the top or off the top after the PA estate tax has been done? Also is there a way by law in which I can get a complete break down of everything my uncle had and where it all went and to who? Thanks for all the help.

 

[seniorjudge]

When did uncle give this person the power of attorney?

 

[jvfrank1980]

He was givin power of attorney when my uncle had a stroke, and was put into the nursing home. All the annuities, IRA and other money accounts had been set up by my uncle well before the attorney was givin POA. The attorney who was givin POA over my uncle was the one who helped him set up his will.

 

[curb1]

This should all be public information if the will is being probated. Who is the executor of the estate. I would call Nationwide again. Yes, this sounds "fishy".

 

[momm2500]

find out what county he passed away in and contact the register of wills in that county. see if a will has been presented for probate. if not, ask them how to go about this (if you are sure there is a will) also is the POA also the executor of the will? if it has you can ask them for a copy (they will want copying fees for doing it) and they could send it to you. Has your brother received any information? Is he residing in PA and can he obtain information for you? Did you receive any paperwork from the estate or anyone else indicating that you are an heir?

 

[seniorjudge]

He was givin power of attorney when my uncle had a stroke, and was put into the nursing home. All the annuities, IRA and other money accounts had been set up by my uncle well before the attorney was givin POA. The attorney who was givin POA over my uncle was the one who helped him set up his will.

Uncle was incompetent after the stroke and thus could not give a POA.

Something's very confusing here.

 

[Dandy Don]

It probably is POA abuse, but as of right now you don't have all of the facts to prove it.

POA is probably invalid because if it can be determined by medical records that the uncle was not mentally competent to execute such a document it will probably be invalidated. If attorney can not provide an official accounting with receipts to prove that he spent the monies on the uncle's care, that will probably be grounds for abuse of POA and/or elderly financial abuse.

First check at the county courthouse probate court to see if any type of probate action has been filed.

Regarding the annuities, your attorney will have to straighten this out. Most likely the attorney used the POA to submit a beneficiary change to the annuity company so that attorney can probably benefit from the estate if the will has been changed to make him beneficiary, which is illegal and probably considered abuse of POA if your state has laws about this.

You will need your own probate attorney to review this possibly dishonest attorney's actions in the probate matter to see what charges need to be filed and how to resolve the probate.

DANDY DON IN OKLAHOMA ([email protected])

 

[jvfrank1980]

thank you all for your posts.


I'm not sure exactly how the attorney was givin POA or who gave it to him. The POA sent me a letter in 01 saying my uncle had a stroke and was put into a home, since he was unable to make choices by himself. The executor of the estate is the POA's father. I have a copy of my uncles will, it says my mom is the sole beneficiary of his entire estate, she passed away in 02. It then says my brother and I are next to recieve his estate, 50/50. However i thought that if i was the sole beneficiary of something it would not be split 50/50. In 01 i was the sole beneficiary of that annuity.

 

[curb1]

jvfrank,
Do you have a problem in splitting the annuity with your brother? I sense a little bit of friction (perhaps I am wrong). If the real original intent to split everything 50/50, I could understand you going along with that sentiment.

I do have a problem that this is being arranged so that there is a siphoning of the estate assets. Time to get your own attorney involved. You and your brother need to work this one as a team.

 

[BlondiePB]

jvfrank,
Do you have a problem in splitting the annuity with your brother? I sense a little bit of friction (perhaps I am wrong). If the real original intent to split everything 50/50, I could understand you going along with that sentiment.

I do have a problem that this is being arranged so that there is a siphoning of the estate assets. Time to get your own attorney involved. You and your brother need to work this one as a team.

Perhaps the brother was the sole beneficiary of the other annuity. There were 2 annuities.


jvfrank, you need an attorney like...yesterday. The attorney can subpeona records. Split the cost of the attorney with your brother who is also getting shafted.

 

[jvfrank1980]

In 01 when my uncles POA sent me that letter telling me my uncle went to the home, he also sent me a letter with a detailed description of where all my uncles money was, all in stock's, cd's, or annuity's. Everything had a beneficiary, about half had my mom as the beneficiary, almost the other half had me as the beneficiary, and my brother had one small cd with his name as the beneficiary (about five percent of my uncles estate). Now it seems that everything i was the beneficiary on was moved to another account or combined, and i am no longer the beneficiary according to nationwide, they said both of the big annuitys had "estate" as the beneficiary, no name. So the POA had to have changed the beneficiary?? Can he do that, even if it was my uncles purpose for me to get that annuity? And am i not right when i say that i would not split that annuity if i was the sole beneficiary, even though my uncles will says estate to be split 50/50?

 

[seniorjudge]

In 01 when my uncles POA sent me that letter telling me my uncle went to the home, he also sent me a letter with a detailed description of where all my uncles money was, all in stock's, cd's, or annuity's. Everything had a beneficiary, about half had my mom as the beneficiary, almost the other half had me as the beneficiary, and my brother had one small cd with his name as the beneficiary (about five percent of my uncles estate). Now it seems that everything i was the beneficiary on was moved to another account or combined, and i am no longer the beneficiary according to nationwide, they said both of the big annuitys had "estate" as the beneficiary, no name. So the POA had to have changed the beneficiary?? Can he do that, even if it was my uncles purpose for me to get that annuity? And am i not right when i say that i would not split that annuity if i was the sole beneficiary, even though my uncles will says estate to be split 50/50?

Follow this advice:

...
jvfrank, you need an attorney like...yesterday. The attorney can subpeona records. Split the cost of the attorney with your brother who is also getting shafted.
...

 

[anteater]

So the POA had to have changed the beneficiary?? Can he do that, even if it was my uncles purpose for me to get that annuity?

I agree with BlondiePB and seniorjudge about consulting with an attorney.

However, I am frankly not optimistic about your chances. PA grants wide latitude to an agent acting under a POA.

There was a fairly recent PA Supreme Court case that affirmed an agent's power to change the beneficiary of a life insurance policy. And I remember reading about another recent case at the Orphans' Court level affirming an agent's authority to change retirement plan beneficiaries. That one may well be in the appeals process.

Don't take this as gospel, but try googling In re Weidner for the first case.

 

[jvfrank1980]

So was I at anytime able to change my uncles POA to myself or an attorney i know, who has the right to change the POA, or was it set that whoever was the POA could not be changed?

 

[momm2500]

jvfrank---get an attorney NOW! there was a house bill #1346 in PA (still searching to see if passed into law) amending title 20 regarding POA's and accounts. it does state that a POA must file an annual report and a final report 90 days after the termination of the POA with the clerk of orphans court in ________ county.

So jvfrank, you need to contact the court house in the county that your uncle passed in. have you done that?????