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#549695 - 05/17/06 04:35 PM POA/Trustee
mcgwirefan Offline
Junior Member
Joined: Apr 2006
Posts: 26
This may have been posted previously but I don't have time to search. Son is POA on checking account and trustee on Trust. Checking account is not under trust name. Mom dies and son comes in and transfers money to trust account. Is this okay?

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Operations Compliance
#549696 - 05/17/06 04:46 PM Re: POA/Trustee
Skittles Online
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Skittles
Joined: Sep 2002
Posts: 13,965
TN
His POA rights expired upon the death of the mother.
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#549697 - 05/17/06 04:51 PM Re: POA/Trustee
mcgwirefan Offline
Junior Member
Joined: Apr 2006
Posts: 26
That I understand. As Trustee to the trust does he have the right to move that money over to the trust account? Thanks for you response.

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#549698 - 05/17/06 09:41 PM Re: POA/Trustee
OkieOps Offline
Platinum Poster
OkieOps
Joined: May 2001
Posts: 752
OK
He still does not have the authority to access Mom's "non-trust" account.

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#549699 - 05/18/06 12:11 AM Re: POA/Trustee
wavewatcher Offline
Diamond Poster
wavewatcher
Joined: May 2003
Posts: 2,053
Hawaii
He needs to be appointed a personal rep to "take over" mom's non-trust accounts. Depending on mom's will, you may or may not need court approval.

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#549700 - 05/18/06 10:23 AM Re: POA/Trustee
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
To summarize the above: No, it's not okay.

As trustee, he only has dominion over what was transferred to the trust prior to death. His POA became void with his mother's death. The funds still held in his mother's name at the time of death were subject to the probate process and the control of a court appointed personal representative.

He needs to put the money back...
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