Debra G. Speyer's Answers

Estate planning under PA state law, probate and trust

While some State have onerous Probate requirements and a Revocable Trust (sometimes called a Living Trust) is useful in those States, Pennsylvania (which is one of several States that I practice law in) has a rather straightforward and quick Probate process. While each person's case is different, and has to be evaluated independently for the most part I will recommend to client's that they not have a Revocable Trust. However, when a client has more than one place they live in or with...

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Is a power of attorney created in WA state valid and binding in another state

Generally, a Power of Attorney from one State should be acceptable in another State. Some States require two witnesses, a notary seal and an acknowledgment by the Principal (i.e., Mom who needs the help) and the Agent (Daughter who will now be writing checks for Mom), while other States don't have the same requirements. Some States have specific banking regulations as to powers of attorney and want that language in the power of attorney. Often the new bank in the State you are moving to has...

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Parents right to regain moneys lost at brokerage house

You do not say what type of American Funds they were put into. That information is important to know for anyone reviewing your parents case to see if your parents can recoup their losses. If your parents were moved from a fixed income annuity to for example an asset allocation of primarily equities, I believe that would be actionable because your parents should be in mostly high grade fixed income. While you can't recover monies because the broker did not have 20/20 hindsight, asset...

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CA security and investment fraud

You can obtain much information regarding securities arbitration from the www.finra.org and www.sec.gov websites. I also have several articles about securities arbitration on my website www.WallStreetFraud.com. There is an organization called the Public Investors Arbitration Bar Association (www.piaba.org) that has a list of lawyers in California that handle wrongful investment advise lawsuits. Good luck. Debra Speyer

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GAL's responsibilities under WA state law, guardian misused and stole funds from incapacitated child

I would suggest that as an heir to the estate you hire your own lawyer to petition the court to force the guardian to file an accounting. If the judge grants your request, then the guardian will have to account for all the monies spent. In most states, the guardian is required to file an annual account of how the guardian spent the funds of the incapacitated person. You should go to the court and review those annual guardianship reports first as that may give you a better idea of how the funds...

1 person marked this answer as helpful

GAL's responsibilities under WA state law, guardian misused and stole funds from incapacitated child

I would suggest that as an heir to the estate you hire your own lawyer to petition the court to force the guardian to file an accounting. If the judge grants your request, then the guardian will have to account for all the monies spent. In most states, the guardian is required to file an annual account of how the guardian spent the funds of the incapacitated person. You should go to the court and review those annual guardianship reports first as that may give you a better idea of how the funds...

1 person marked this answer as helpful

Is a power of attorney created in WA state valid and binding in another state

Generally, a Power of Attorney from one State should be acceptable in another State. Some States require two witnesses, a notary seal and an acknowledgment by the Principal (i.e., Mom who needs the help) and the Agent (Daughter who will now be writing checks for Mom), while other States don't have the same requirements. Some States have specific banking regulations as to powers of attorney and want that language in the power of attorney. Often the new bank in the State you are moving to has...

1 person marked this answer as helpful

Investment fraud

The Public Investors Arbitration Bar would be a good place to start. www.piaba.org. They have excellent attorneys listed. However you should look at the original agreement you signed to determine if you are required to litigate your dispute in a certain place. I had a client recently who was from Texas but had agreed in their opening account documents to hold the arbitration in Pennsylvania. You should also determine if you signed an arbitration agreement as that will determine if you need to...

Securities with Broker gone bad

Taking your question at face value, if the financial consultant recommended an investment in which he did not have a reasonable basis to recommend, you may have a case. You would bring an arbitration (if you signed an arbitration agreement) through FINRA if the broker is a member of FINRA. His culpability would depend upon how negligent he was regarding your account. You can learn more information about securities arbitration by going to my website www.wallstreetfraud.com. Good Luck. Deb

Broker lacked due diligence

I believe you have a case. I bet he did not disclose to you the hugh commission he got selling you this deal. You should hire an investment fraud lawyer. One of your first steps is to determine if you signed an arbitration agreement so you can know whether you should file your case in court or in the FINRA arbitration system. The lawyer you hire will prepare a Complaint or a Statement of Claim. When I prepare a Statement of Claim in an Investment Fraud case, I obtain the information that you...