Can BOA give out a copy of the trust to a POA without my knowledge. If so what kind of POA should it be?

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fancynancy123 Asked November 2023

Can BOA give out a copy of the trust to a POA without my knowledge. If so what kind of POA should it be?

My sister and I have different ideas on our mother's money. I have a supplemental trust for my mother and she is the only beneficiary. My sister wants to take the money and spend it on her flying back and forth from NY to Florida and take my mother out for 3 days when I live in Florida and do that without her money. I told her no just in case mom needs the money that medicaid will not cover. She ask BOA for a "copy of the trust" never told me nor did the bank and they gave it to her behind my back. I live in Florida.

Elder Law Financial Planning Forms & Documents Power of Attorney (POA)

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score 0 · Answer 1

For what it's worth, Bank of America is probably one of the worst banks there is.

I recommend removing them as any kind of trustee and transfering to a smaller local bank's trust and estate department.

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score 0 · Answer 2

fancynancy123: Pose your query to the trustee of the trust.

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score 3 · Answer 3

How can she take anything out of a trust if YOU are the one who set it up??

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score 1 · Answer 4

Your sister cannot take the rent money, its Moms and goes towards her care. If Mom ever needs Medicaid, it will be considered gifting. Sister is stealing.

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score 1 · Answer 5

You need An attorney. After reading your bio it looks like sister has one. She sure knows how to work the system.

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score 0 · Answer 6

Who is Moms POA? If Mom has ALZ, she should not have been allowed to open a bank account. Are you Trustee? If so, the Bank was wrong in turning over info to sister. If you are POA, you need to make the Bank aware it if u haven't. Mom should never been allowed to open a new acct. And I would definitely complain about the trust info being released.

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score 1 · Answer 7

If an employee at B of A gave out private financial info without permission, they’d surely be in trouble. If your sister got a copy of it, consider that she may have obtained it some other way.

Your post is confusing. Can you explain further?

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score 2 · Answer 8

It took me a minute to get she meant Bank of America! If fancy had made out the trust and its hers, why would BOA give that info out? what am I missing here?

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score 2 · Answer 9

A POA cannot manage and has no power over a Trust. Only the Trustee of Trust can manage a trust, and the Trustee of Trust is under no obligation to share anything with the POA. The assets of a Trust belong only to the TRUST and no POA has any options where it goes. When I took over my brother's finances and assets it was necessary I be made BOTH POA and Trustee of Trust.

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Can BOA give out a copy of the trust to a POA without my knowledge. If so what kind of POA should it be?

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