My brother-in-law talked my dad into being his Enduring Power of Attorney a few years ago because he wanted control of my dad's money. My dad was 91 at the time and quite naïve with his money and too trusting, which most seniors are at that age. My brother-in-law set up my dad's accounts with the bank in joint owner investment accounts with my sister, brother and myself. We all had to sign for this at the bank. A moderate amount was left in dad's saving's account for his living his expenses. I had my dad's name on a waiting list for a full care home and his name came up. Although my dad is subsidized with the government for his rent their, his monthly rent exceeds his pension income.
I am his Enduring Power of Attorney now and have been right after this happened ,some other things were going on as well that weren't in dad's best interest. Dad is now turning 95 and the money in his savings is running low. I took dad to the bank recently to see if we could transfer some money from his investments into his chequing account to pay some bills, and the bank manager told us the others have to come in to sign as well with my dad.
My sister hasn't talked to my dad for ages and hangs up on him if he calls her and my brother doesn't visit him much at all and hardly ever phones. They weren't asked as of yet to come in to sign as I told them to wait and see what I can do as we feel dad shouldn't have to ask them for his money and doesn't want to. We're sure they wouldn't come into sign anyways. Dad wants to take them off the investments, let alone be in the same room having them sign so that he can take HIS money out. I'm not sure if he ever can change anything regarding the will and if he does gets a lawyer, he is worried that he won't have enough money to pay for legal fees. When my BIL arranged this set up with his accounts 4 years ago, he didn't think that my dad would live this long and would get by on the money that he set up in his savings account. I haven't talked to them for 4 years because of a horrible relationship I had with them. They are very hostile and negative so myself and my side of the family cut them out of our lives. Not sure what to do?