As my Father lied on his death bed, my Brother, the Power of attorney took CD's and added his names to the accounts and justified this by saying he was doing for insurance purposes as FDIC only insures up to $100.000,00 per CD. well he then Cashed the CD's in as power of attorney. and created a trust in a money market. Claiming it was higher yielding. Ahem...Since when does ANY money market fund pay higer intrest than a CD? Fact is our suspicion is he simply did this to have accessability to the funds. And seeing as his name was on ALL the CD's with my father he skipped probate. Of which in the will it's states for him to be the Executor and set up a trust. BUT also cashing in the CD's cost us (the beneficiaries) the penalty. And of course we have no idea HOW MANY CD's he cashed in. Please someone tell me is this a case of sef dealing? And do we have grounds? and if so what?
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