- Jurisdiction
- Kansas
I have financial DPOA for my 93 yo mother w dementia. I am her beneficiary on her financial brokerage account w major bank. I am also sole surviving direct family member--son. I would like to transfer her account to another provider w/o any changes to terms.
I am being told by the receiving provider that I CANNOT as DPOA name myself as beneficiary unless I have specific amendment to DPOA allowing same. Given my mother's present mental status I would say that is not possible in regards to mental capacity.
So what am I missing here. I understand the admonition against changes BUT I am not making any changes to beneficiary; only changing the brokerage due to service issues.
So how do I defeat this interpretation by the brokerage which presently is barring me from transfer.
I am being told by the receiving provider that I CANNOT as DPOA name myself as beneficiary unless I have specific amendment to DPOA allowing same. Given my mother's present mental status I would say that is not possible in regards to mental capacity.
So what am I missing here. I understand the admonition against changes BUT I am not making any changes to beneficiary; only changing the brokerage due to service issues.
So how do I defeat this interpretation by the brokerage which presently is barring me from transfer.