T
Trhkciatlpia Asked April 2014
Can a POA require notification before a financial transaction is completed?
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My mother has closed several CD's and sold bonds without my knowledge (yes, I have POA on file with the specific institutions).
She is not willing to add me to the accounts as co-owner.
The funds were either given to "friends" in need or spent at casinos.
She does not have dementia or other mental health issues.
In three years her assets have been reduced by 50% (500k). That cash flow was on top of her annual income is 90k.
Other than guardianship (which siblings are fighting against), what options do I have?
FYI - I have moved into her home to minimize the requests from friends (which helped dramatically).
Thanks. Teresa
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2 Answers
pamstegma Apr 2014
Go for Guardianship. Do not delay. She does have dementia if she is giving away buckets of money.
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assandache7 Apr 2014
Other than telling her not to spend the money there isn't much you can do. Being herPOA is for when she is unable to do it herself. It's her money..
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