My grandmother's POA is her other son. Would that make him entitled to the 100k upon her death? She wrote her will distributing the 100k of her son's along with her assets! Just wondering bc it seems that may not be allowed and it would be tragic if there were problems after she passes away. If this is not allowed, what could be done now to avoid problems with distributing his assets? His kids never visit him, so she does not want his money to go to them.
Is this the gm/POA money or the money of the son that she has POA responsibility and is required that she is to use for his care?
If the POA is distributing his money not for his care it should be reported. That is only an opinion as I do not have law degree. But as I see it would be a violation of the POA duties.
If it is the mothers money it would be the executors and probate attorney to distribute as per written in will. Again only an opinion based response.
You would benefit by consulting with a lawyer if you are concerned with legal ramifications upon gm death.
Good luck.
Does this son get Medicaid in any way? Because if he does, he can't have 100k in the bank. My disabled nephew had 50k from his deceased Moms insurance money. It was suggested it be put into a Special Needs Trust, which it was. But when he passes, Medicaid will recover the money they put out from that trust.
Really need more info.
A POA manages for an incompetent principal during that person's LIFE, not after his/her death.
A POA does not distribute money after death. That is for the Executor if there is a will or the administrator who will be appointed if the person dies intestate (without a will).
In the case of a person dying intestate their money will be divided according to the laws of the state, given first to wife/or wife and children, secondly to parents if there is no issue and no wife.
If you wish details on all this it is best to see an attorney. Discuss with the family and the POA. Much of what you get on a Forum is our experience and our opinion. Legal questions require legal answer.
If the Grandma and the son are joint on the account containing the $100k (so she's not just the FPoA at that bank but is actually a co-owner of the account), then this means when one of them passes away, all the money in that account belongs to the survivor. It is not inherited -- the survivor owns it.
Even if she is his legal guardian or conservator, it doesn't mean she owns that money if he passes. She'd need to inherit it first, which he'd need to specify in his Will (if he made one). With no Will it would go to his kids first.
"If this is not allowed what could be done now to avoid problems with distributing his $."
If he isn't competent to write a Will, then the court will decide who gets his money and it will usually be his kids first.
The answer will help get you better information about the situation.