Find Senior Care (City or Zip)
Join Now Log In
C
carol23 Asked April 2014

My siblings withdrew Mom's IRA account and she became upset. What can I do?

Account week, my mother wanted to know how much money was in her bank account while I was visiting, she had has social securityaccount, there was 3,000.00 in her checking, She had a IRA and my brother and the sister both went to the bank and withdrew her Ira 18.000.00, my mother became very upset and was very angry, took her anger out on me. She is afraid of my sister, and does not want to talk about it now. she draws enough social security to pay for the nursing home ,but my mom should have the right to know, is there any thing I can do, my brother and sister will not even talk to me and my other sister

vstefans Apr 2014
Look, if you verify this occurred the way you said it did- fraudulently - then embarrassing or no, you go to the legal authorities, and go immediately. That IRA is for your mother's needs, not your siblings' addictions or other "needs", and the "gifting" of such an amount will be a disaster if she needs Medicaid. If the siblings have POA, they have abused it and could probably be removed unless there is a reason the money had to be taken and used in some way on Mom's behalf.

Chicago1954 Apr 2014
The bank isn't going to tell you anything, unless you are on the accounts or are POA. Who is financial POA?

If this was theft, you go to the District Attorney's office. If the siblings are on the account, then, your mom may be out of luck.

My mother recently thought that my sister had written a check for $12,000. It wasn't so. My mother had signed the check herself, to the NH.

ADVERTISEMENT


assandache7 Apr 2014
Good idea! Mom can contact bank and get the info..

Ginach Apr 2014
Instead of questioning your sister I would check with the bank manager to see how this transaction was completed.

carol23 Apr 2014
No they never asked her, she did not even know about it, until that day, she had told my sister she wanted to see her bank statement, but my sister would never bring it. my mother is 85, she' your topically aged mother, but she is competent, I will ask her if they had her to sign anything, but I know she did not, she"s in the nursing home because she had replacement hip surgery, sometimes shes a little
off, especially when they give her to much medication, but the doctor told her she could come home as long as she has some help sometimes. she can get up and down, bath herself, dress herself.

Labs4me Apr 2014
How did your brother and sister manage to withdraw funds from your mother's IRA account? You cannot just walk into a bank and withdraw that large sum of money without identification and a paper trail. If your mother's signature was forged that is grand larceny. Even if one of them has DPOA, they need your mother's permission to withdraw any sums of money if she is still considered competent.

carol23 Apr 2014
were do I go to do this, it's embarrassing that my own brother and sister did this, they haven't even spoke to me and my other sister for 3 months, they never have to discuss any changes they make for mom, actually my other sister has a drinking problem, they have treated her like dirt her whole life, mad cause I take up for her, someone has too.and that"s the whole problem in a nut shell.

Galoshes59 Apr 2014
File charges for financial abuse and exploitation of a senior.

ADVERTISEMENT

Ask a Question

Subscribe to
Our Newsletter