co-executors

[mumsey]

1. Can power of attorney be shared evenly, so that one has to be informed as to what the other is doing with the estate?
2. As co-executors of our father's estate how do I keep the other one from cleaning out my father's bank accounts?
3. Is it possible for her to decide to take money from the estate before he passes on to build a room for him with that money or to buy a boat, basically raid the account?
4. Can she sell his house for a certain amount of money without my input or approval?
There are a lot of drug issues with this. They can't pass drug tests to get jobs.

 

[dee_dub]

A few facts would be helpful.

1. Generally, yes, POA can be shared. It's not so much a matter of one informing the other what they're doing, but that POAs are required to keep accounts. The other is entitled to inspect these accounts. If the person granting POA so desires, he can make it a term that the co-POAs have to act unanimously.

2. If your father is still alive, you don't do anything as co-executor. As co-POA or as an interested party, you apply to have her removed as POA.

3. She's entitled (and obligated) to act in the father's best interests. If using his money to build a room for him is in his best interests, then it's OK.

4. If the POA grants her the power to dispose of his real property (not all POAs do) and grants her the power to do so unilaterally (without your input), then yes, she can.