What is the name of your state?California:
I have co-POA with my sister and brother for my mother who has suffered from Alzheimer’s for the last 6 years. Since I live closest to my mother, I attend to her medical and comfort needs and financial matters. I work closely with the nursing home in which she lives and coordinate physician visits and other care needs. My sister, who lives out of state and is battling cancer, has always assisted as much as possible and has visited numerous times. My brother, on the other hand, never visits, calls, or contributes in any way to the care of my mother.
Recently, we learned that my mother must take distributions from one of her annuities or face severe tax penalty consequences. Her annuity company is requiring that all three of the co-agents sign a form authorizing withdrawal of her distribution, which would be transferred electronically to her bank account.
The problem is that my brother refuses to sign the form because he does not trust me or my sister to handle any of my mother’s financial obligations. The annuity company will not intervene in the matter. My brother, after many years of voluntary nonparticipation in my mother’s affairs, is now demanding that I send him copies of every single receipt, medical record, bank account statement, and tax information from the past 15 years. The records have always been accessible to him in person and I do not have the time nor resources to comply with his demand. Consequently, I have two questions:
1) Is my brother in breach of his fiduciary duty as a co-agent by not allowing my mother to take her IRA distribution and is he potentially liable for any monetary losses that she may incur as a result of IRS penalties?
2) Am I legally obligated to provide him with copies of records in the manner which he demands and for over such a long period of time (9-10 years before my mother required assistance)?
I have co-POA with my sister and brother for my mother who has suffered from Alzheimer’s for the last 6 years. Since I live closest to my mother, I attend to her medical and comfort needs and financial matters. I work closely with the nursing home in which she lives and coordinate physician visits and other care needs. My sister, who lives out of state and is battling cancer, has always assisted as much as possible and has visited numerous times. My brother, on the other hand, never visits, calls, or contributes in any way to the care of my mother.
Recently, we learned that my mother must take distributions from one of her annuities or face severe tax penalty consequences. Her annuity company is requiring that all three of the co-agents sign a form authorizing withdrawal of her distribution, which would be transferred electronically to her bank account.
The problem is that my brother refuses to sign the form because he does not trust me or my sister to handle any of my mother’s financial obligations. The annuity company will not intervene in the matter. My brother, after many years of voluntary nonparticipation in my mother’s affairs, is now demanding that I send him copies of every single receipt, medical record, bank account statement, and tax information from the past 15 years. The records have always been accessible to him in person and I do not have the time nor resources to comply with his demand. Consequently, I have two questions:
1) Is my brother in breach of his fiduciary duty as a co-agent by not allowing my mother to take her IRA distribution and is he potentially liable for any monetary losses that she may incur as a result of IRS penalties?
2) Am I legally obligated to provide him with copies of records in the manner which he demands and for over such a long period of time (9-10 years before my mother required assistance)?
