It's possible that the POA's brother got a sweetheart deal, but maybe not... Was the property in disrepair at time of purchase? Who cleaned out the home (hoarding is often a problem as folks decline into Alzheimers)? County records and Zillow don't usually accurately reflect values based on interior conditions of the home (and in some cases exterior).
The POA should have taken steps to protect himself in what is a non-arms length transaction (such as obtaining an independent appraisal at the least). But the reality is, it sounds like the cousin is perhaps grumbling over $100,000 at the most- while not insignificant, it's not worth paying lawyers to look into and perhaps file a claim against the POA agent (because it could be difficult to prove if the home was sold below market value). Also, your cousin declined to help his Mom with financial matters, and needs to accept the POAs work on his Mom's behalf was in her best interest. As a POA for a family member myself, it can be very challenging to deal with all aspects of person's care (even in a managed care setting), never mind managing that person's home and it's disposition. It sounds like your cousins Mom had a good neighbor that tried to do the right thing for the most part. I'm guessing the POA did his best to take care of his neighbor for little or no compensation as well. If a guardian was appointed for the Mom's care for 2 years, I'm guessing that charge may have approached mid-high 5 figures.
The POA should have taken steps to protect himself in what is a non-arms length transaction (such as obtaining an independent appraisal at the least). But the reality is, it sounds like the cousin is perhaps grumbling over $100,000 at the most- while not insignificant, it's not worth paying lawyers to look into and perhaps file a claim against the POA agent (because it could be difficult to prove if the home was sold below market value). Also, your cousin declined to help his Mom with financial matters, and needs to accept the POAs work on his Mom's behalf was in her best interest. As a POA for a family member myself, it can be very challenging to deal with all aspects of person's care (even in a managed care setting), never mind managing that person's home and it's disposition. It sounds like your cousins Mom had a good neighbor that tried to do the right thing for the most part. I'm guessing the POA did his best to take care of his neighbor for little or no compensation as well. If a guardian was appointed for the Mom's care for 2 years, I'm guessing that charge may have approached mid-high 5 figures.
Statistics: Posted by chw — Sat Jan 04, 2025 3:16 pm