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My brother has control of my IRA and without my permission he put my IRA into a IRA Savings account do I a situation.

Plano, TX |

Is it legal for him to change my IRA without my permission? His wife is the vice president of the bank in MO

Attorney Answers 3


Okay - what the heck is your brother doing having ANY authority whatsoever over YOUR IRA? First you should contact the account holder, identify yourself and REMOVE him from having any signature authority whatsoever. Second, you should file a complaint with the Bank President that your account was moved by him without your permission. I'd suggest you get the account moved back to where ever You want it to be. ASAP. Good Luck!

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While I generally agree with my colleague, it would seem there is more to the story than what you have shared with us. Does your brother have POA for you? Is he your conservator? Why does he have control of the IRA? Is it held in a trust that he is the trustee of? If you share the additional facts, it will be much easier to figure out what is going on, here.

James Frederick

***Please be sure to mark if you find the answer "helpful" or a "best" answer. Thank you! I hope this helps. ***************************************** LEGAL DISCLAIMER I am licensed to practice law in the State of Michigan and have offices in Wayne and Ingham Counties. My practice is focused in the areas of estate planning and probate administration. I am ethically required to state that the above answer does not create an attorney/client relationship. These responses should be considered general legal education and are intended to provide general information about the question asked. Frequently, the question does not include important facts that, if known, could significantly change the answer. Information provided on this site should not be used as a substitute for competent legal advice from a licensed attorney that practices in your state. The law changes frequently and varies from state to state. If I refer to your state's laws, you should not rely on what I say; I just did a quick Internet search and found something that looked relevant that I hoped you would find helpful. You should verify and confirm any information provided with an attorney licensed in your state. I hope you our answer helpful!

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I am not aware of a way that a brother could have control over his brother's IRA without there being some other significant facts. I immediately think of a guardianship. Is it possible that your brother is your legally appointed guardian? If he is he has the power to invest your assets. He does have to account to the probate court (in Texas) and he has to file an annual accounting.

DISCLAIMER: This is not specific legal advice and does not establish an attorney/client relationship.

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