Helped aunt set-up trust 3 years ago - - DPOA was effective immediately (upon signing). I need to gain access to accounts to help pay for end-of-life care. Account manager's at investment companies are trying to protect aunt (which I am happy about) but wouldn't budge with letter from my attorney. I believe next step is their compliance department to get final ruling/clarification.
My dad was in a nursing home. He had an annuity and I was able to access it with my DPOA....and a password that my dad had set up. My dad was mentally declining and I thought, "Oh Lord, this is going to be fun". My brother and I tried to figure it out (dad was not a complicated guy) and finally we thought, "Why don't we just ask him??" I did, my dad told me the password, and the funds were released. Oh, there was some paperwork that needed to be filled out but I was able to do that on my dad's behalf with my DPOA. It was a fairly easy process, easier than I thought it would be.
I would think that with DPOA you should have access to your aunt's accounts. That's what the DPOA is for! Maybe your aunt has a ton of dough in these accounts that is causing the account manager to hesitate? My dad's annuity was less than $20,000.
Read the fine print of your DPOA to the account manager, or better yet, send him a copy of the DPOA. From what you said, it sounds as if you're about to begin running in circles.
Good luck with this. Please keep in touch,
Carol
I like what jinx has suggested, however I wouldn't call I would put it in writing ASAP, but yes to the "top dog".
I would include not only a copy of the lawyers letter but also documentation from two doctors to have evaluated her and either the nursing home or the hospice that is caring for her. Then you should explain in the letter that the delays are decreasing her quality of life and may put you in a position of having to spend some of her money I'm sure the bills which was never the intention of the immediate DPOA in the first place.
They are taking unnecessary hardline position and you need it for is to try to get them to be sympathetic with your plight, hopefully before you need to take for the legal action which will ultimately cost your aunt, their client, unnecessary expenditures.
It was a matter of them trying to protect her assets, which is a good thing.