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#2214684 - 05/31/19 02:47 PM Elder account holder, possible incapacity
RubyTues Offline
New Poster
Joined: Jun 2014
Posts: 15
If I'm not in the right forum, please let me know.
We have an older account holder (102!) who has a substantial amount of money. Her son, who managed their affairs, recently died. He had told me that physically she was doing well but that she was very forgetful (no surprise at her age, but she had done remarkably well until recently). I have known both of them personally for a number of years, not just as bank customers, so I'm quite sure he was correct in what he said. I got a call today from the lady's broker/friend who said she had asked him to help her with her account, as she was having trouble understanding it and keeping it up. I'm not sure what to do--obviously, I wouldn't give him access to her account, but with her probable lack of understanding/capacity, I don't feel like I can call her and ask her what she wants, and there are no other family members so she can't rely on someone else to do this for her. What is the best course of action here?

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#2214689 - 05/31/19 03:27 PM Re: Elder account holder, possible incapacity RubyTues
burkemi Offline
Platinum Poster
Joined: Nov 2013
Posts: 528
Without legal council and/or a court appointed guardian or POA, there really isn't much you can (or should) do. At least, that's my opinion.
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#2214694 - 05/31/19 03:58 PM Re: Elder account holder, possible incapacity RubyTues
RubyTues Offline
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Joined: Jun 2014
Posts: 15
Thanks.

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#2214698 - 05/31/19 04:12 PM Re: Elder account holder, possible incapacity RubyTues
P*Q Offline

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P*Q
Joined: May 2001
Posts: 8,458
Somewhere
I agree with burkemi. Let him apply through the courts.

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#2214709 - 05/31/19 05:05 PM Re: Elder account holder, possible incapacity RubyTues
RubyTues Offline
New Poster
Joined: Jun 2014
Posts: 15
Thanks. Tough situation. Living to be 102 isn't all it's cracked up to be wink

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#2214738 - 06/01/19 04:06 AM Re: Elder account holder, possible incapacity RubyTues
JacF Offline

Power Poster
Joined: Nov 2001
Posts: 6,719
PA
I agree that you can't simply grant the broker access. However, you might reach out to adult protective services in your jurisdiction and ask them to intervene. You would explain that while you do not suspect abuse or exploitation, you do suspect that your 102 year old customer is unable to handle her own finances, and lacks people in her sphere of influence to assume responsibility for her affairs should she lose capacity.

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