We often refer to power of attorney documents as “licenses to steal.” If you believe a family member or other trusted individual who has the power to manage finances under a power of attorney document might be taking advantage of that power, the law in New Hampshire does provide a remedy. Under our power of attorney statute, so long as you have some interest in the matter, you may request that the agent provide an accounting of the agent’s activity undertaken on behalf of the principal. In other words, once the request is made, the agent has the obligation to identify all financial transactions that have taken place. The agent needs to account for monies taken in and monies going out of the principal’s accounts. If, after such a request is made, the agent fails to provide this accounting within sixty (60) days, New Hampshire law allows for the filing of a petition for accounting with the probate division. In that petition, you may ask the court to order that an accounting be provided and other relief, such as a request to invalidate specific transactions, a request to determine whether the agent should be allowed to continue in that capacity, among other relief. In addition, and certainly not to be overlooked, if you were to prevail in demonstrating a failure to provide an accounting or otherwise prevail on a petition for accounting, the New Hampshire statue specifically provides that the court may, in its discretion, issue an order directing the agent to pay all attorneys’ fees incurred. This is a significant “hook” that provides for the ability to, at least potentially, recover attorneys’ fees.
