[WSBAPT] IRA refusing to accept POA

[Setareh Mahmoodi]

Hello,

Just wondering if anyone has had luck dealing with an IRA company refusing
to accept a valid POA.

There is a valid POA, the principle is in a home and incapacitated. The AIF
(the wife) and the alternate the son (who is helping AIF 1) trying to make
a distribution from the IRA to pay for the principle's care. First, the
company refused accepting the POA, saying they would only accept the
original, we certified a copy of the original and sent that in. Now they
say the POA does not specifically deal with distribution from IRA and the
only person allowed to make a distribution is the principle, not even his
spouse.

There is a whole section in the POA specifically dealing with retirement
accounts and allowing AIF all powers to make withdrawals, fund etc
regarding any type of retirement account.

I was considering a letter to the company and using RCW 11.94.120. However,
was wondering if anyone has had a similar situation and if so, what was the
best method and if there is any language/RCW used that was persuasive.

Thanks so much,

Setareh

-- 

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*Best regards, *


*Setareh Mahmoodi *

*Attorney at Law *

*18222 104th Ave NE, Suite 103*

*Bothell, WA 98011*

*Phone: 425-806-1500*

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