Abuse of a Power of Attorney

[wesainadv]

My younger brother was given a power of attorney by both of my parents in case of emergency. After mother died, he ran amuck with it, ran down to the courthouse and filed it with durable provisions. He then took out mortgages against properties which were owned by my father and then jointly owned with my father for over 500,000. Also, after dad paid off $130,000 on a line of credit which held cds in dad's or his name ran the line back up without dad's knowledge. When dad found out he had done this, he revoked the power of attorney last May. Dad is 83 and in bad health and doesnt want to lose what he has left by brother not paying back the loans and the banks coming after his meager resources which are remaining. He would like to see if there is a way that the cds could be released if the credit line is not ran back up, as they are holding a piece of property on mortgage for money brother has received. They should pay the interest at least to my father's checking account, but at present he gets nothing out of it but paying the taxes on moneys which have been taken. This is in the state of Kentucky. Thank you for any assistance.

[Mr. Knowitall]

Your father should have had your brother prosecuted. Really. By opting not to do so, he will have a much harder time avoiding any of the liabilities which were created. If your brother has any assets, your father may wish to consider suing him to recover the stolen funds. At a minimum your father should get an estate plan together which disinherits your brother.

Legal Helpline for Older Kentuckians: 1-800-200-3633.