A 76-year-old Houston woman is trying to put her finances back in order after a 24-year-old Texas woman not only stole her driver’s license and social security card but used them to gain power of attorney over her bank accounts, getting away with nearly $30,000 of the elderly woman’s money.

In mid September, the 76-year-old woman went in to her local bank only to be told that someone had withdrawn $29,800 from her bank account. When the woman asked who, the bank gave her the name of a woman she did not know and explained that she had obtained power of attorney over her bank account. It was at this point that the woman contacted police.

Although investigators believe that a 24-year-old Texas woman is to blame for the theft, police have not been able to take her into custody as she remains at large at this time.

As Texas’ elderly community continues to rise, stories like this continue to emphasize the importance of talking with your family members about your estate before tragedies like this happen. And although power of attorney was used in the worst possible way in this scenario, in most cases, power of attorney can be incredibly helpful when distributing an ailing family member’s estate.

Many real estate planning experts point out that it’s always a good idea to not only have a power of attorney in mind but to let other people, including your financial institutions, know who that person is. And although rare, you may be able to offer yourself a safety net against the difficulties associated with identity theft such as this.

Source: KHOU News, “Houston woman accused of stealing money using power of attorney documents,” Feb. 4, 2013