Question about using POA to get access over bank accounts

[Anonymous]

Since it is Sunday the banks are closed, lawyers office is closed, and I would like to get things together and be prepared for tomorrow.

My MIL is mentally unstable and is in the process of being committed. We are several states away but have medical and regular of POA for her. We know based on her actions over the last week, she has made some bad financial decisions. I want to get access to her account to see what she has done and if we can get control over her finances.

Thanks.

[Anonymous]

All you need to do is present the POA to any branch of the bank. That's your legal answer.

Your expedient answer...if you have her account numbers and personal information, sign her up for online banking. You will see everything.

[Anonymous]

I was going to second the online banking. We have medical and regular POA for my mother in law and my husband just set up online access. He did file the POA with the bank but started with paying her bills online.

[Anonymous]

You'd probably need to get a court order if it is that much of an issue. My MIL had very little money when we moved here. I opened an account online, closed her old account/got a check, put it in the new account and I manage it all online and its not an issue. I buy everything she needs/wants (though often spend our money to make sure she has something for a big need).

[Anonymous]

I had POA for my father and we used online banking to keep track of his financial situation. I also spoke with his financial planner regularly. In the last few months of his life I also closed credit accounts, paid off bills, and eventually closed his bank accounts. All you should need is the POA documents and a trip to the bank to set things up for access.

[Anonymous]

I would set up online banking but she doesn't even know who she is right now. I might be able to get that information eventually but not for a couple weeks.

I'll bring her personal information and the PoA to a local branch of her bank tomorrow and see what they can do. Being 5 states away from her (she has no family or friends left down there) makes this very hard. We have been through this with her many times before but her mother was alive then and that made rhings easier.

[Anonymous]

So...by personal information...

Once you take the POA to the bank, just have them print out all the account information for you. And personal information. Statements if needed.

I assume you know her address, Ssn, but the bank printouts should have it. Make sure you get it in case it is masked on the printout.

That's all you need to set up online banking. That will take you about 30 seconds.

You aren't going to need a court order, provided your POA is properly prepared. Not sure where the PP was coming from on that one. I'm the chief compliance officer of a bank, for reference.

[Anonymous]

OP here, thank you PP. I greatly appreciate the advice. I have here DOB, SSN and last 3 addresses (she has moved three times in 4 months). It sounds like that should be enough. She is paranoid (thinks there are spies, etc), so getting appropriate information out of her is very tough.

[Anonymous]

Anonymous wrote:OP here, thank you PP. I greatly appreciate the advice. I have here DOB, SSN and last 3 addresses (she has moved three times in 4 months). It sounds like that should be enough. She is paranoid (thinks there are spies, etc), so getting appropriate information out of her is very tough.

OP here - this is assumjng she has not switched banks in the last year. Which I truly hope is the case, but considering her movements for the last month, who knows? She mave have provided a false SSN as well.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here, thank you PP. I greatly appreciate the advice. I have here DOB, SSN and last 3 addresses (she has moved three times in 4 months). It sounds like that should be enough. She is paranoid (thinks there are spies, etc), so getting appropriate information out of her is very tough.

OP here - this is assumjng she has not switched banks in the last year. Which I truly hope is the case, but considering her movements for the last month, who knows? She mave have provided a false SSN as well.

Bank person here.

She will have had to provide enough information to a new bank to satisfy their CIP requirements. Which means they would have had to be able to confirm who she is, and her physical address, and her source of funds. And while technically she could have lied about her Ssn on her TIN certification, that would have been caught eventually by the IRS and the bank would have sent her a letter asking her to correct it or they would start withholding interest.

If her accounts are not where you think they are, as her POA you still have a legal right to inquire. Worst case figure out what banks have branches in her town then start calling them. Ask them to provide you the name and address of deposit operations department so you can send your inquiries there. You will need to provide your POA information with your inquiry.