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Estate Planning >> Elder Law >> financial POA vs. the Trustee

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Discussion: financial POA vs. the Trustee-
#233, posted 18 Mar 2022 4:28 pm256 words
cathy47 (Offline)

Joined 18 Mar 2022 4:16 pm

1 post

I live in Calif. I am priamry care-giver to my 82 yr. old mom who is late middle stage Demetia. I've hired an attorney. This is my situation. My sister was names as first atty-in-fact on the financial POA. It only passes to me, if she dies, becomes incapacitated or is unwilling or unable to serve. She sat and signed off on a reverse mortgage in -04 when right after the POA was notarized and when mom's mind was starting to slip. In Dec. '05, as mom named ME successor trustee to her trust in May of '05 (the last document she signed while still competent). I am now the trustee because her 2 primaries wrote letters of incompetence. I am currently having my attorney work with the reverse mortgage business to change the name of the responsibile party to my name (as trustee). My attorney has quoted them Ca. probate law on how Assumption of Duties as trustee shall superceed the power of attorney and how they can no longer rely on the good faith of the current P/A. Why would the attorney for the reverse mortgage place say that WE are wrong, and that the current P/A is more powerful? What is the law on that? What do I do next if the Att'y for the reverse mortgatge business says "you're wrong; we know the law, and the current P/A is the most powerful document" and that they will NOT changethe responsible party's name. Period. Will I need to hire a different Att'y?

#235, posted 20 Mar 2022 11:54 am, in reply to #23335 words
Customer Support (Offline)

Joined 26 Jan 2022 1:01 pm

144 posts

9.6/10 Rating
Dear Cathy47,

Your situation seems rather complicated. Let the attorney you have hired handle this matter. We believe that the same attorney shall take care of both issues of your case.

Best regards,
Customer Support


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