Legal Question in Banking Law in California
BofA says it is IRA rules in CA that I cannot handle my fathers IRA even though I have durable POA. The IRA has matured, my dad is old enough to cash it out but he has Alzheimers hence why I have POA. They want me to bring him in or wait until he passes so that the beneficiary can collect the money. This is insane. He needs his retirement money to live off of. How do I get around this? Is this even true or more clerical ignorance on BofA's part???
Asked on 4/10/12, 11:03 am
1 Answer from Attorneys
Joel Selik
www.SelikLaw.com
Are they saying why they will not accept the power of attorney? Have you made a written demand for what you want? Have they responded in writing?
Answered on 4/10/12, 11:09 am
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