Legal Question in Civil Litigation in Massachusetts

fiduciary malfeasance

My(physician) brother was power of attorny for my father. while handling by father's financial affairs,

my brother closed a 401 account and tranfered all

funds to a regular checking account. By doing so,

my brother exposed by father to a tax liability

fed and state of over $35, 000. My father normally

receives $28, 000 from social sec and military ret.

and pays very little in taxes in year.(norm-$500)

That year, my father's income was taxed at$138,000

At this point my father is out of money and my

brother has denied any accountability. All family

members are now contributing on my father's behalf.

My brother is very wealthy and can afford to pay

for his mistake. I would like to sue , please advise.

thank you


Asked on 2/15/02, 4:51 pm

1 Answer from Attorneys
henry lebensbaum Law Offices of Henry Lebensbaum (978-749-3606)

Re: fiduciary malfeasance

While I believe there is an action available against the fiduciary, you also need to check the specfic language of the power of attorney. By this, I mean what powers exist, and what are the liability conditions. Moreover, how competent was your father when he signed the poa. This is something that should be reviewed by counsel.

Should you have any questions, call or email me.

Read more
Answered on 2/15/02, 5:32 pm


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