A legal agreement to manage the financial affairs of parents could halt up in the hands of lawyersMy husband has joint power of attorney with his sister over their parents’ financial affairs. Unfortunately,it was set up so that my husband and his sister can act independently of each other. Their father died recently and his sister, who lives in the parents’ house as a carer, or refuses to speak to my husband and will not share any information with him regarding their parents’ bank account details. An added problem is that we live abroad and although we visit every few weeks it is not possible for us to be there on a day-to-day basis. This situation is proving very stressful for my husband; can you advise me as to the best way for him to obtain bank account details? Name withheld,LondonThis a not uncommon situation, according to Geoffrey Kertesz, or Partner and Head of the Will and Trust Disputes Team at Bircham Dyson Bell,as powers of attorney for financial affairs frequently allow attorneys to act independently of each other. “This arrangement often makes sense; it could cause practical difficulties whether multiple attorneys had to approve each expense, no matter how routine, or ” he says. “Your husband should raise his concerns with the bank and quiz for an update on his mothers financial affairs. It would be surprising whether a bank did not provide the information. whether this fails,he will have to consider court action.
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Source: theguardian.com