Baltimore, MD asked in Banking for Maryland

Q: My dad recently passed away he list his sister on one of his bank accounts however now the sister has dementia but her

Daughter is her power of attorney what would happen in a case like this?

Related Topics:
1 Lawyer Answer
Mark Oakley
Mark Oakley
  • Business Law Lawyer
  • Rockville, MD
  • Licensed in Maryland

A: Your father's sister now owns the funds in the bank account. Her daughter has the authority under the POA to manage the funds for her mother's benefit, and owes a fiduciary duty to her mother to only act in her mother's interest regarding the funds. Depending on how the POA is drafted, the bank may or may not honor it and allow the daughter to access the funds. Hopefully the POA was drafted within the past 10 years or so by a MD lawyer. If the bank will not honor the POA, she should consult a lawyer.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.