Fannie Mae-No Politics (FNMA)

[ewtrader]

What are the remedies to address power of attorney abuse after it occurs?

Lawyers may help people to stop power of attorney abuse and to get money back that has been improperly taken by the agent. For example, a lawyer could:

Draft a document to revoke (cancel) the POA
Ask a court to require the agent to file an accounting to see how the agent has spent the money
File a civil action to cancel contracts or deeds that the agent should not have made
File a civil action to recoup money
Petition a court to appoint a guardian who can manage the finances if the individual is unable to manage money independently

In addition, agents under a POA may be prosecuted for abusing a power of attorney. Depending on state criminal law, power of attorney abuse might be theft, fraud, embezzlement, money laundering, exploitation or another financial crime. Through the criminal court process, a prosecutor could ask the court to freeze the individual assets to prevent further abuse, and could also seek restitution (repayment of money taken).

https://www.justice.gov/elderjustice/mistreatment-and-abuse-guardians-and-other-fiduciaries