Find Senior Care (City or Zip)
Join Now Log In
K
kdoney2000 Asked March 2013

How do I stop a bank from acknowledging a Revocation of DPOA issued after the principle was deemed incompetent?

My father has financial DPOA on my grandmother. The DPOA was sprung by two doctors' letters deeming her mentally incompetent (Alzheimer's). A bank account was opened in her name, utilizing the DPOA and doctors' letters. My grandmother has since signed a Revocation of DPOA and my uncle has sent it in to the bank. My grandmother doesn't understand the consequences of her actions and in fact doesn't recall signing the document a week after doing so. My uncle is attempting to gain access to my grandmother's money. The bank has stopped recognizing the doctors' letters they used to set-up the account and honoring the revocation. I don't understand how the bank can flip / flop on their position. If they bank would have not recognized the doctors' letters to begin with, the account would have been set-up at a different bank. Please note that two other major banks (Chase and BofA) have recognized the sprung DPOA as a valid instrument for my father to conduct financial matters on my grandmother's behalf. How do I get the bank to change their position without filing for conservatorship/guardianship?

EXPERT K. Gabriel Heiser Mar 2013
I agree that the bank's position is illogical. As a practical matter, having an attorney contact the bank and review the situation may resolve it most expeditiously. If all else fails, seeking appointment of a conservator in court would clearly give the conservator full power over the bank account.

akasun Mar 2013
Kodoney, I'm sorry your family is in this difficult situation. Your best bet at this point would be for your to contact an attorney. The only way to resolve this is for a judge to rule on the validity of the revocation. As your grandmother was declared incompetent by two doctors, the next step would be for a court to appoint a guardian.

ADVERTISEMENT


ADVERTISEMENT

Ask a Question

Subscribe to
Our Newsletter