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