The child to whom they empowered is an individual with a history of bankruptcy and time in federal prison for embezzlement. This child is listed on all their bank accounts. Before this child prevented other children from getting info, it was learned that large amounts were being withdrawn regularly without parental knowledge. In addition, this child has been encumbering major expenses such as home renovation and planned trip to Europe - despite being unemployed and living off of spouse's $70,000 income. Mother has been diagnosed with Alzheimers and father's health is failing. We are very concerned that funds are being depleted and parents will not be eligible for Medicaid. Please advise.
First, why did your parents choose this particular child to handle their finances? And does this person officially have durable Power of Attorney?
Are you a caregiver for your parents? Do you live with them? Is there any struggle to get their needs met (in terms of money)? Are you getting paid for the caregiving?
Are there other siblings?
Are your parents aware of what your brother is using their money for? Do they approve?
If you can provide more details, you'll get more specific responses.
https://www.agingcare.com/questions/My-brother-has-gotten-his-name-on-my-parents-bank-accounts-and-is-using-their-money-for-himself-How--170807.htm
Again, I raise the same questions as in that post, specifically, how are you getting the information that your brother is pilfering their assets? From your brother?
You state that you're "not allow[ed] to have any information yet you obviously have a lot of information.
You need to explain these contradictory statements.
If you're caring for your mother as your profile states, how did this happen? Where were you when your parents went to the bank with your brother?