Money spent by power of attorney/executor prior to death

[Johnboy007]

Re: Money spent by power of attorney/executor prior to death

The DPA does not apply to the dead

I should have read the quote right...........

[Hopeful123]

Re: Money spent by power of attorney/executor prior to death

Thanks for the reponses both and apologies for the delay in replying. I'm a little confused as to whether I can request access to bank account transactions for either my grandmother and/or the executor. Can someone clarify. Thanks again.

[MissFM]

Re: Money spent by power of attorney/executor prior to death

You can certainly request, can't you? If all is above board there is unlikely to be any objection...:noidea:

As to whether you can insist in the face of a denial, more knowledgeable Beagles will advise :confused2:

[Johnboy007]

Re: Money spent by power of attorney/executor prior to death

Hi,
If you are a beneficiary of the will, you can demand to see the executors final accounts of the estate.
These should show all money and other assets collected by him, and what was paid out from the estate.

[MissFM]

Re: Money spent by power of attorney/executor prior to death

Not sure about executor's activities under POA prior to death, though?:tinysmile_hmm_t2:

[Hopeful123]

Re: Money spent by power of attorney/executor prior to death

Thanks both. Should the final accounts take into account any transactions during the whole period as power of attorney i.e. the last 3-4 years? Additionally, am I right in thinking that any gifts within 7 years of death have to be declared on the probate forms? I have not seen these so I do not know what was included. I'm just trying to ascertain whether the missing balance mentioned above should be accounted for somewhere.

[des8]

Re: Money spent by power of attorney/executor prior to death

You may request, but as a beneficiary I regret you have no right to access your grandmother's bank account.She was able to do whatever she wanted with her assets & you cannot look into this unless you can PROVE there was an element of undue influence or lack of capacity.
These points were raised earlier in the thread.
Similarly with the executors accounts. If the will has been settled you ,as a residual beneficiary should be given a copy of the final accounts. If on receipt of these you are convinced they are dodgy, you could challenge them. If, (hope not) it reached court, the court could order disclosure if it would be conducive to the proper administration of the will.

[MissFM]

Re: Money spent by power of attorney/executor prior to death

Certainly HMRC would be interested in all the above, so it must be available somewhere. I'm just really not sure whether, unless you are next of kin or had PoA yourself (and it seems from what you've said above that neither apply), whether you are able to demand to see accounts from during the deceased's lifetime...unless you were to instigate some sort of official investigation with all that entails.

It certainly is worth contacting the OPG http://www.justice.gov.uk/about/opg

Sorry, post crossed with Des

[Hopeful123]

Re: Money spent by power of attorney/executor prior to death

Thanks Des, there seemed to be a couple of opinions and I just wanted to clarify so I appreciate you doing that. I think the next step is to request the final accounts as I believe the will has been settled (I was told this before I was informed I was a beneficiary).

Thanks MissFM, I will take a look at that link as I'm not next of kin or PoA.

[Johnboy007]

Re: Money spent by power of attorney/executor prior to death

The executor really should have told you much earlier that you was a beneficiary

[basa48]

Re: Money spent by power of attorney/executor prior to death

As Johnboy mentioned, I was involved in a similar situation recently although the sums involved were very much smaller.

As far as the PoA is concerned, the attorney should only involve him/herself in matters concerning selling property, paying the mortgage, investing money, paying bills and arranging property repairs. Unfortunately proving any misuse or inappropriate activity will be nigh on impossible following the death of the donor. The bank would probably not release any details of the account usage unless they suspected fraud. Even then it would probably be only if the police requested them.

In effect then, prior to your Grandmothers death the attorney/executor had control of her money and I feel there is little you can do, it's a fait accompli.

So if the attorney/executor had spent or otherwise 'disposed' of the £80k prior to death then there is probably little left of the estate to distribute. Hence his/her reluctance to inform you of your legacy.

You do have a legal right to copies of the will and the probated estate accounts. This may shed some light onto the state of her affairs at death.

[Hopeful123]

Re: Money spent by power of attorney/executor prior to death

Thanks for your reply Basa, I guess next steps are now getting a copy of the final accounts (I already have a copy of the will) and deciding what to do from there. It's a tough one.

[des8]

Re: Money spent by power of attorney/executor prior to death

If, on obtaining a copy of the final accounts, you are still concerned about the possibility of your Grandmother's attorney having not acted in her best interests but on the contrary having effectively stolen from her, you can report your suspicions to the police.
Whilst they should take your concerns seriously, they too might find proof difficult, and as warned earlier there might be unwanted and unexpected repercussions.

[Johnboy007]

Re: Money spent by power of attorney/executor prior to death

If you suspect fraud, you can report it online.........

[righty]

Re: Money spent by power of attorney/executor prior to death

If, on obtaining a copy of the final accounts, you are still concerned about the possibility of your Grandmother's attorney having not acted in her best interests but on the contrary having effectively stolen from her, you can report your suspicions to the police.
Whilst they should take your concerns seriously, they too might find proof difficult, and as warned earlier there might be unwanted and unexpected repercussions.

What "unwanted unexpected repercussions"