Power of Attorney Abuse - Buyer Beware - 0 views

• 
  #1 Olsson Doherty on 14 Dec 13

   

  A power of attorney can be used to assign legal authority to some other person. The key (the person granting the power of attorney) provides agent, also referred to as the attorney-in-fact, the authority to create legal conclusions on his/her behalf, including real estate, handling bank records, and other assets.
  
  The prospect of fraud exists in every power of attorney arrangement, through illegitimate gifting, and self dealing, embezzlement. In certain circumstances, an estate will be significantly depleted by a power attorney holder, leaving the heirs of the key with little if any inheritance. Alternative methods when a power of attorney may be abused include changing beneficiary designations on life insurance or annuities, and opening bank accounts with joint name or pay on death terms in support of the agent. In case people claim to dig up extra information on Social Networking Community, there are many online resources you should think about pursuing. I learned about article by browsing Google Books.
  
  The creation of the power of attorney can be questioned under the lands of lack of ability or that the creation did not follow proper procedures. In case a validly granted power of attorney continues to be abused by the agent, grounds might exist to sue the agent for the reunite of embezzled house or for monetary damages. The agent can be sued by the principal immediately, if the principal remains living at the time of the motion. In several situations, the power of attorney abuse is part of a broader sample of elder abuse. When the principal has passed on by the time the power of attorney abuse has been found, the principal's estate or the intended beneficiaries of the property could be ready to sue the agent for breach of fiduciary duty, tortious interference with estate planning, or several of other causes of action.
  
  Due to the possibility of abuse using a power of attorney, their use must be limited. Many people making a power of attorney may leave the instrument with the drafting attorney until the circumstances triggering the activation of the power have been induced, including the incapacity of the primary.Law offices of Attorney Scott Bradley
  700 W Center St Suite 4,
  West Bridgewater, MA. 02379
  Serving all of Massachusetts

   

  <div class="cArrow"> </div><div class="cContentInner">A power of attorney can be used to assign legal authority to some other person. The key (the person granting the power of attorney) provides agent, also referred to as the attorney-in-fact, the authority to create legal conclusions on his/her behalf, including real estate, handling bank records, and other assets. <br /> <br /> The prospect of fraud exists in every power of attorney arrangement, through illegitimate gifting, and self dealing, embezzlement. In certain circumstances, an estate will be significantly depleted by a power attorney holder, leaving the heirs of the key with little if any inheritance. Alternative methods when a power of attorney may be abused include changing beneficiary designations on life insurance or annuities, and opening bank accounts with joint name or pay on death terms in support of the agent. In case people claim to dig up extra information on <a rel="nofollow" href="http://glixya.com/index.php?do=/blog/56824/picking-out-a-criminal-defense-lawyer/">Social Networking Community</a>, there are many online resources you should think about pursuing. I learned about <a rel="nofollow" href="http://chatchatty.com/blogs/36146/77922/picking-out-a-criminal-defense-l">article</a> by browsing Google Books. <br /> <br /> The creation of the power of attorney can be questioned under the lands of lack of ability or that the creation did not follow proper procedures. In case a validly granted power of attorney continues to be abused by the agent, grounds might exist to sue the agent for the reunite of embezzled house or for monetary damages. The agent can be sued by the principal immediately, if the principal remains living at the time of the motion. In several situations, the power of attorney abuse is part of a broader sample of elder abuse. When the principal has passed on by the time the power of attorney abuse has been found, the principal's estate or the intended beneficiaries of the property could be ready to sue the agent for breach of fiduciary duty, tortious interference with estate planning, or several of other causes of action. <br /> <br /> Due to the possibility of abuse using a power of attorney, their use must be limited. Many people making a power of attorney may leave the instrument with the drafting attorney until the circumstances triggering the activation of the power have been induced, including the incapacity of the primary.Law offices of Attorney Scott Bradley <br /> 700 W Center St Suite 4, <br /> West Bridgewater, MA. 02379 <br /> Serving all of Massachusetts</div>

  ...

  Cancel

To Top