What to do about malfeasance on the part of POA?
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What to do about malfeasance on the part of POA?
I am a heir to an estate. I am having trouble with the former POA who is now the executor. The POA took $15K from an IRA that I was the beneficiary to. The money was withdrawn days before my mother died. It was not required for her care or overhead. The POA/Executor refuses to answer questions on why these funds were taken. I suspect a “self serve†issue is involved but until I have access to the bank transactions, I can’t say for sure. Is my only recourse to file a “Complaint for Accounting” petition with the Probate Court ? I understand the Surrogate can not assist as the incident occurred while this party was POA.
Asked on December 1, 2012 under Estate Planning, New Jersey
Answers:
Victor Waid / Law Office of Victor Waid
Answered 11 years ago | Contributor
Yes demand an accounting annd file a petition to have the executor removed and a fiduciary appointed to admister the estate. Also consider a lawsuit agains theIRA administrator for releasing money with your mother's authorization even though there was a POA in place, and join the POA in the suit. Obtain probate litigation counsel to repreent you.
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