Power of Attorney Abuse - Customer Beware - 0 views

• 
  #1 Fitzgerald Robbins on 13 Sep 13

   

  A power of attorney is employed to delegate legal power to some other person. The main (anyone giving the power of attorney) provides the agent, also referred to as the attorney-in-fact, the power to create legal decisions on his/her behalf, including property, handling bank accounts, and other assets.
  
  The possibility of fraud exists in most power of attorney arrangement, through self working, embezzlement, and illegal gifting. In certain situations, an estate will be significantly depleted by a power attorney holder, leaving the heirs of the main with minimum inheritance. Different ways when a power of attorney could be abused include changing beneficiary designations on life insurance or annuities, and opening bank accounts with combined title or pay on death provisions in support of the agent.
  
  The creation of the power of attorney can be questioned under the causes of insufficient ability o-r the creation did not follow proper formalities. Reasons may possibly exist to sue the agent for the reunite of embezzled home or for monetary damages, If your validly given power of attorney continues to be abused by the agent. My boss found out about www by searching newspapers. The principal can sue the agent immediately, if the principal continues to be living at the time of the action. In several situations, the energy of attorney abuse is part of a broader pattern of elder abuse. If the principal has died by the time the ability of attorney punishment has been discovered, the principal's estate or the intended beneficiaries of the property may be ready to sue the agent for breach of fiduciary duty, tortious interference with estate planning, or lots of other causes of action.
  
  Due to the potential for abuse using a power of attorney, their use should be limited. Discover further on a related website by visiting ventura attorney discussion. The instrument will be left by many persons creating a power of attorney with the drafting attorney until the conditions triggering the activation of the power have been triggered, such as for instance the incapacity of the principal.

   

  <div class="cArrow"> </div><div class="cContentInner">A power of attorney is employed to delegate legal power to some other person. The main (anyone giving the power of attorney) provides the agent, also referred to as the attorney-in-fact, the power to create legal decisions on his/her behalf, including property, handling bank accounts, and other assets. <br /> <br /> The possibility of fraud exists in most power of attorney arrangement, through self working, embezzlement, and illegal gifting. In certain situations, an estate will be significantly depleted by a power attorney holder, leaving the heirs of the main with minimum inheritance. Different ways when a power of attorney could be abused include changing beneficiary designations on life insurance or annuities, and opening bank accounts with combined title or pay on death provisions in support of the agent. <br /> <br /> The creation of the power of attorney can be questioned under the causes of insufficient ability o-r the creation did not follow proper formalities. Reasons may possibly exist to sue the agent for the reunite of embezzled home or for monetary damages, If your validly given power of attorney continues to be abused by the agent. My boss found out about <a href="http://danielmorganlaw.com/practice-areas/criminal-defense/dui/index.html" rel="nofollow">www</a> by searching newspapers. The principal can sue the agent immediately, if the principal continues to be living at the time of the action. In several situations, the energy of attorney abuse is part of a broader pattern of elder abuse. If the principal has died by the time the ability of attorney punishment has been discovered, the principal's estate or the intended beneficiaries of the property may be ready to sue the agent for breach of fiduciary duty, tortious interference with estate planning, or lots of other causes of action. <br /> <br /> Due to the potential for abuse using a power of attorney, their use should be limited. Discover further on a related website by visiting <a href="http://danielmorganlaw.com/" rel="nofollow">ventura attorney discussion</a>. The instrument will be left by many persons creating a power of attorney with the drafting attorney until the conditions triggering the activation of the power have been triggered, such as for instance the incapacity of the principal.</div>

  ...

  Cancel

To Top