Breach of Fiduciary Duty Before Death and Taking 401k Benefit from Parent After Death

[PJDJ]

My question involves estate proceedings in the state of: PA

My father died late last year and my estranged oldest sister had durable POA since 3/2002. He signed his will on the same date, leaving his house to my mother and the remnants of his estate to his children. Oldest sister was named Executrix.

I discovered through obtaining the title transfer paperwork that oldest sister as POA gifted father's vehicle to other sibling and other sibling traded it in for a new vehicle for herself. In turn, Other sibling gifted her vehicle to oldest sister and oldest sister gave to her son to drive. The paperwork was completed as "friend gifting to friend". When I found the paperwork I disclosed this to my other sibling and told her that she fradulently completed this paperwork and that this transaction showed abuse on oldest sister's behalf. She in turn informed my mother who will now not speak to me, saying she approved this transaction to get rid of the car so my father wouldn't ask her about it.

Prior to not speaking to me, my mother sent to me a Change in Beneficiary form that was signed by my father in 4/2002 showing my oldest sister as main beneficiary of his 401k. The form, faxed over by the financial institution 2 weeks after my father's death, did not have my mother's signature waiving her right to it. However, in digging up my father's financial records, I see that the beneficiary distribution was made to my oldest sister a couple of weeks ago. Could my mother have signed the beneficiary change form after my father's death? My other sister recalls that my father tried to get her to sign a beneficiary form somewhere around 1995, but my mother does not recall signing it. It would have had to have been notarized, right? Wouldn't the change in beneficiary form have to indicate waiver on file with my mother's signature?

Where and whom do I go to regarding my sister's breach of fiduciary duty and how do I report the financial institution for writing a check to my oldest sister and not my mother?

[jk]

=PJDJ;503153] Oldest sister was named Executrix.

what a terrible thing to name a child. That is as bad as the joke about the child named Urine (pronounced your-een-ee)

I discovered through obtaining the title transfer paperwork that oldest sister as POA gifted father's vehicle to other sibling and other sibling traded it in for a new vehicle for herself

. was father still alive? How do you know your father wasn't aware of the transaction and agreed with it?

. Could my mother have signed the beneficiary change form after my father's death?

your father would have had to change the bene before his death. You were sent notification of a change presumably because you had been listed as a bene at one point. They would not send you notice of your mothers actions because honestly, it would be none of your business.

Where and whom do I go to regarding my sister's breach of fiduciary duty and how do I report the financial institution for writing a check to my oldest sister and not my mother?

what check was written to your sister that should have been written to your mother?

[PJDJ]

was father still alive? How do you know your father wasn't aware of the transaction and agreed with it?
Because mother said father complained daily about license being taken away and constantly asked her where his car was.

your father would have had to change the bene before his death. You were sent notification of a change presumably because you had been listed as a bene at one point. They would not send you notice of your mothers actions because honestly, it would be none of your business.

My mother sent me the beneficiary form. It was provided to her by my oldest sister. My oldest sister gave her a couple of copies celebrating the fact that my father's 401k showed her as sole beneficiary...The form does not show my mother's signature on it, and I don't believe my mother is aware that by federal law it's her money.

what check was written to your sister that should have been written to your mother?

The financial institution wrote a beneficiary check to my sister and not my mother.

[jk]

Because mother said father complained daily about license being taken away and constantly asked her where his car was.

and yet no action was taken at the time. Acquiescence can often be seen as approval. If dad refused to actually do anything, apparently it wasn't that big of a deal to him.

My mother sent me the beneficiary form. It was provided to her by my oldest sister. My oldest sister gave her a couple of copies celebrating the fact that my father's 401k showed her as sole beneficiary...The form does not show my mother's signature on it, and I don't believe my mother is aware that by federal law it's her money

so what does your mother say about this? It is she that would have to do something about it? All she has to do is call whomever held the account and ask if she is concerned there was some impropriety.

The financial institution wrote a beneficiary check to my sister and not my mother.

well, that was the bank writing the check, not your sister. If the bene was listed as your sister and all appeared legit, that is what they would do. If your mother believes there was impropriety concerning this, she needs to contact the bank.

[PJDJ]

and yet no action was taken at the time. Acquiescence can often be seen as approval. If dad refused to actually do anything, apparently it wasn't that big of a deal to him.

He was a stroke victim in a home and my oldest sister and mother controlled his life. so what does your mother say about this? It is she that would have to do something about it? All she has to do is call whomever held the account and ask if she is concerned there was some impropriety.

She called and the bank told her that since she was not listed as beneficiary they could provide her no information. So, the financial advisor thinks everything is legit, yet he didn't have my mother's necessary signature waiving her rights.well, that was the bank writing the check, not your sister. If the bene was listed as your sister and all appeared legit, that is what they would do. If your mother believes there was impropriety concerning this, she needs to contact the bank.

How could everything appear legit when my mother's signature is not on there waiving her rights? My mother is too stubborn to understand or want to understand that her oldest daughter screwed her, as she is 77 years old and oldest sister buys her groceries from time to time. I and another sibling live out of state, so I see my oldest sister not only sucked money out of my father for personal gain, but also screwed my mother out of my father's money.

[jk]

I find it odd that your mother was rebuffed at the bank. It is not that she is seeking information as much as she was informing the bank of an impropriety. She needs to go up the chain of command at the bank. Maybe it was how things were phrased. The bank surely knows the laws regarding this. That is why I would question whether she had actually signed a waiver at some time and simply doesn't remember doing so.

If she can get nowhere with the bank and she is certain she did not sign a waiver, it sounds like it's time to hire a lawyer and look into possibly suing the bank.

[PJDJ]

My Oldest sister, sole beneficiary and POA was the bank's primary contact, so I don't find it odd at all. ::shrug:: I would think that the Beneficiary form would have to note my mother's waiver on file? My father signed this in 2002, and in was faxed over to Oldest Sister two weeks after death, so it's got to be the last one on file.

What if I can't get her to make this inquiry before she passes? I guess the statute of limitations clock is ticking from the date they signed the check to my Oldest Sister, or is it from my father's date of death?

[jk]

PJDJ;503172]My Oldest sister, sole beneficiary and POA was the bank's primary contact, so I don't find it odd at all. ::shrug:

but because of the legal status of your mother being the required bene and apparently not having signed a waiver, that is why I find it odd. One would think they would have at least told your mother they had a waiver on file of her waiving her rights to the account. The waiver could have been on a separate document.

: I would think that the Beneficiary form would have to note my mother's waiver on file?

as would I and being rebuffed as she was, I would wonder if there isn't such a waiver on file. One possibility that I had not thought of previously but since you believe your sister to be quite devious, maybe there is a forged waiver on file.

.

What if I can't get her to make this inquiry before she passes?

It gets complicated. Her estate would have to address this so, depending on who is exec/pr, they may not find it worth the trouble.

I guess the statute of limitations clock is ticking from the date they signed the check to my Oldest Sister, or is it from my father's date of death?

I would think from the date of disbursal since that is when the alleged improper action actually took place but don't hold me to that.

[PJDJ]

but because of the legal status of your mother being the required bene and apparently not having signed a waiver, that is why I find it odd. One would think they would have at least told your mother they had a waiver on file of her waiving her rights to the account. The waiver could have been on a separate document.

They did not. I just talked to a lawyer friend of mine who said the beneficiary form that they faxed to my sister should have been noted as such. He also told me I would have to have my mother address this, and since she's not talking to me, I will have to see if I can get my other sister to get her to do it. Otherwise, it will be an estate issue, is the SOL doesn't run out. Right now, my mother doesn't have a will, so it will be a big mess. We're not talking chump change here. It's close to 400k.

as would I and being rebuffed as she was, I would wonder if there isn't such a waiver on file. One possibility that I had not thought of previously but since you believe your sister to be quite devious, maybe there is a forged waiver on file.

Devious? You're word is too kind..... LOL

[jk]

best of luck.

the one thing you need to realize: if mom doesn't think this is an issue, it really isn't. She is the one injured here and if she is happy with the way things are, nobody else should be getting upset. It involves her money and if she doesn't want it, well, that's her prerogative.