Do You Have Questions Surrounding A Lifetime Gift Or Suspect Power Of Attorney Abuse?
Has an elderly relative needed the assistance of a younger family member to keep up with the bills? Has the family member been given access to the finances of that person? Are there serious questions or concerns that a power of attorney may be abusing their position by transferring assets to themselves?
Many of these situations can begin with the granting of a power of attorney that was truly needed to help an older person stay abreast of the bills, investments and assets. Perhaps the person with the power of attorney has used the credit cards of the person he or she is supposed to be caring for to pay for items for themselves or access to bank accounts may have been abused. Did the person in need of care give any substantial “gifts” to the person holding the power of attorney?
Missing Assets And Misappropriated Funds
Our experience with investigating, litigating and retrieving assets can help you when assets of any sort are absent or have been misused by a caregiver, family member holding a power of attorney, trustee or executor:
- Power of attorney abuse — paying own bills, purchase of goods or services for self, overspending
- Improper asset transfer — moving funds into own bank account, asset transfer favoring self (many claim transfers were as gifts)
- Breach of fiduciary duty — fraud, theft, abuse, fiduciary misconduct or any behavior that violates the duty owed by one holding the power of attorney, or a trustee or executor
Beneficiary fraud and asset transfer disputes are some of the issues that can be attacked through successful probate litigation.
Suspicious Changes To Beneficiary Designations And Inadvertent Permanent Transfer Of Assets
Without meaning to, or perhaps intentionally, permanent transfers of assets can happen if the access granted to caregiver or family member is not carefully constructed. A right of survivorship on an investment account or bank account may have been created. Also, a change in an account beneficiary designation or an insurance beneficiary designation may have been made. This would effectively turn the asset in question into the property of the caregiver or family member at the moment of the passing of the older loved one. We have experience in pursuing such assets and rejoining them to the estate or making sure they go to the true intended beneficiary.
Our office is located in the Toledo area, and we offer free in-home initial consultations anywhere in Ohio.