Brokerage firm not accepting POA verified by eldercare lawyer

[loris338495]

Greetings - my mother is a resident of New York and has been trying to qualify for Medicaid (nursing home resident post-fall and hospitalization).  Quite some time ago, maybe 10 years ago, she signed a POA assigned to my sister and to me.  It was completed by her lifetime eldercare lawyer (father passed away).  She has an eTrade brokerage account in her name and eTrade has frozen the account.  They say the POA notarized by her eldercare lawyer is not adequate, they needed a new POA on eTrade paperwork to be signed (which we did with a notary at the nursing home).  Now they say that is legitimate, but that she needs a letter from a regular attending physician testifying to her inability to take care of her own finances (she's 86 and got on the phone with them and told them that 3 years ago).  They have no physical walk-in locations to meet customers (tried to take my mother there during the pandemic and even now, they have no locations to make appointments).  eTrade has a "legal team" but no lawyers in house, as our family (mother's eldercare lawyer) has been on the phone with them multiple times.  They won't release the account and for that, my mother can't spend down to the NYS limit.  What are our options?  Would a complaint with BBB or other help?  How do I find out if other elders are similarly affected?

Thank you for your advice.

[jn7427]

In reading a aarp article, i found out about Vanguard having a similar policy. I sent for their paperwork on it. It looks like you are going to have to get a Dr. to sign off on her inability to atake care of her assests. Hopefully that is not a problem for you. A pia for sure, but something you will have to do. Good luck on it