A power of attorney person closed out a savings account that was in trust for one beneficiary and opened up another account for different beneficiaries with the same amount of money on the same day ( a week before the account owner, comatose in the hospital died) The power of attorney document does not state that the POA had gifting authority, which I think it must state in order to change beneficiaries. Does anyone have any ideas or references to case law in order for the first beneficiary to get her money.

Am I correct in assuming that the account has since been closed, and the funds disbursed to the new beneficiary?