We sometimes refer to a Power of Attorney as a “License to Steal.”  While they are an important part of most people’s estate plans, in the hands of bad actors, they are dangerous.  Here are a few of the issues we see most often.

Requesting Accountings

Usually, the first step in a case of suspected financial abuse involving a power of attorney is to request an accounting and financial documentation of transactions. In cases where the agent will not share this information voluntarily, we may have to file a lawsuit to demand information.

Breach of Fiduciary Duty

Breach of Fiduciary Duty occurs when an estate Administrator (estates without a Will) or Executor (estates with a Will), who represents the estate and has a duty to lawfully and fairly administer the estate, breaches that duty through negligence, fraud, self-dealing, stealing assets, and similar actions. Breach of Fiduciary Duty claims usually seek to remove the fiduciary from his or her position and pay for any damages of the breach.

Tell us about your power of attorney abuse issue.