I need help, please! My parents both have dementia and are being scammed out of their life savings. None of us (their kids) know what we need to do to take control of their accounts so they don't lose everything they have. My sister has durable POA, but the bank isn't recognizing that, even though it's notarized. Any suggestions on how this could be accomplished, and who should we could contacted regarding the scam?
A bank may deny certain transactions on the basis of possible identity theft, fraud, or business irregularities, not only to protect the account holder, but to protect the bank itself from liability to the account holder. The bank does have a duty to monitor questionable activity to prevent losses to consumers and stockholders.
It is very difficult to intervene until YOU establish a legal right to do so. We know. We went through it. And it took guardianship to get er done.
Have your parents been declared incompetent by a Dr? That will also allow you to have access through the POA if you have a letter of incompetency as well.
I highly suggest you contact an Elder Law Atty asap!!!!