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Loren
Loren, Lawyer
Category: Family Law
Satisfied Customers: 29037
Experience:  30 plus years of experience.
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MY WIFE HAS ENTERED INTO A POWER OF ATTORNEY RELATIONSHIP WITH OUR SON. THUS OUR SON IS TH

Customer Question

MY WIFE HAS ENTERED INTO A POWER OF ATTORNEY RELATIONSHIP WITH OUR SON. THUS OUR SON IS THE AGENT AND MY WIFE IS THE PRINCIPAL. MY WIFE AND I HAVE 160,000 IN A JOINT CHECKING ACCOUNT. WOULD THERE BE ANY WAY THAT MY SON COULD PULL OUT MORE THAN FIFTY PERCENT OF THE 160,000, HIS MOTHERS HALF, SAY TO PUT HIS MOTHER INTO A NURSING HOME? HOW DO I PROTECT MY HALF OF THE 160,000. DO I NEED TO SEE AN ATTORNEY? I DON'T TOTALLY TRUST MY SON TO DO WHAT IS RIGHT FOR ME. HE HAS ALWAYS FELT THAT I HAVE NOT TREATED HIS MOTHER WITH ENOUGH LOVE AND TENDERNESS. I DON'T TRUST HIM NOT TO SPEND ALL OUR MONEY, WHICH I THINK HE CAN DO WITH A POWER OF ATTORNY LEAVING ME WITH AN INADEQUAQTE AMOUNT OF MONEY TO LIVE ON.I LOVE MY WIFE AND WANT HER TO HAVE THE BEST OF CARE WITH THE AMOUNT OF MONEY WE HAVE BUT I'VE GOT TO HAVE ENOUGH INCOME TO LIVE ON MYSELF. I AM 74 AND MY WIFE IS 73 . WE LIVE IN FLORIDA. WHAT CAN I DO? I AM ***** ***** AND MY WIFE IS REBECCA.
Submitted: 1 year ago.
Category: Family Law
Expert:  Loren replied 1 year ago.
Good afternoon. I am Loren, a licensed attorney, and I look forward to assisting you.Unless the account has restrictions, your son can empty the entire account.
Expert:  Loren replied 1 year ago.
You need to put a two signature requirement on any withdrawal in excess of a certain amount, say, $5000.
Expert:  Loren replied 1 year ago.
Did you have further questions? Have I answered your question?