We have completed a legal separation, signed & notorized by atty, revoked power of attorney. Family doctor last summer ssaid my husband could not handle financial or legal affairs; he had a test completed at the local vet's admin., they said he can handle his financial and legal affairs; therefore, he wanted and we agreed to legal separation, dividing all assests equally. we provided the legal papers for them; they said they did not know what to do. they presented info to the home office; home office said fam. doc has to say in writing that he agrees with the VA and rescind his ltr re: dementia, even tho after the report from the VA said he can handle his affairs and has only mild cognitive impairment, the family doc's comment in writing was, call his wife , tell her the VA said that he can handle his affairs and live on his own... that's not good enough for the investment firm. they have FROZEN our account and even I cannot withdraw any funds which I need to pay bills, especially since our $$$$ are now divided and I have less to live on. I talked with my atty. he said he's never heard of such a athing and they are just protecting themselves. what else can i do?????????? Investment firm said if our fam doc does not say in writing that he agress with VA and rescinds his orig. ltr. that my husband will have to have another poa and in meantime, i'm without funds, frozen from the account as well as he is!!!!!!!!!
If you have however rcvd revocation of power of attorney, you do not have access to the account,(s) unless you are signed on originally.
A brokerage or bank can make up their own rules and let them be subject to legal challenge, as a means of keeping funds under mgt. They have nothing to lose.