Question on POA

[DataPro01]

What is the name of your state? Massachusetts

The situation is this. Mother has assets which the 4 sons are trying to protect from abuse of any sort. One of the sons assumes a durable power of attorney and closes the mother's checking and savings accounts and opens them in his name. Ths step was needed as the mother would take thousands of dollars out for inconsequential reasons and be carryiing that kind of money as she went about her daily business.

The problem is that the new accounts are in the one brother's name with no beneficiaries listed on the account. The brother has a history of heart problems. If he passes away won't the state get the monies?

Would the preferred solution be that he simply name the other brothers as co-benificiaries?

Thanks in advance

Gerry

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[BelizeBreeze]

If brother drops dead from a heart attack today, his hiers, including his wife, children, brothers, sisters, mother and father will get the money after probate. If he dies without a will, then state statutes where he dies will determine succession. If a will, then the will prevails.

The BETTER solution would for brother to place the monies in a trust with all hiers as beneficiaries. However, at the present time, it's his.