Power of Attorney Abuse - Consumer Beware - 0 views

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  #1 Walter Sunesen on 19 Jul 13

   

  A power of attorney is used to assign legal power to a different person. The main (anyone giving the power of attorney) gives the agent, also known as the attorney-in-fact, the power to make legal decisions o-n his/her behalf, including handling bank records, property, and other assets.
  
  The potential for fraud exists in most power of attorney arrangement, through unlawful gifting, and self dealing, embezzlement. If you have an opinion about the world, you will probably choose to study about success. In some circumstances, a of attorney holder may significantly strain a house, leaving the heirs of the key with little if any inheritance. Other ways in which a power of attorney could be abused contain changing beneficiary designations on life insurance or annuities, and opening bank accounts with combined title or pay on death procedures in support of the agent.
  
  The creation of a power of attorney can be challenged under the causes of lack of ability o-r that the creation did not follow proper formalities. Discover more on an affiliated encyclopedia - Visit this website: understandable. In case a validly given power of attorney continues to be abused by the agent, reasons may exist to sue the agent for the return of embezzled property or for monetary damages. The principal may sue the agent immediately, if the principal is still living at the time-of the motion. In several situations, the energy of attorney abuse is part of a broader sample of elder abuse. When the key has passed on from the time the energy of attorney abuse has been discovered, the principal's estate or the intended beneficiaries of the home might be ready to sue the agent for breach of fiduciary duty, tortious interference with estate planning, or several of other causes of action. To get another interpretation, please consider checking out: advertiser.
  
  Due to the possibility of abuse using a power of attorney, their use should be limited. Several individuals making a power of attorney may leave the device with the drafting attorney until the conditions triggering the activation of the power have been induced, including the inability of the key.Edmond Divorce & Family Law Center
  1050 E. 2nd St. #219
  Edmond, OK 73034
  (405) 726-0469

   

  <div class="cArrow"> </div><div class="cContentInner">A power of attorney is used to assign legal power to a different person. The main (anyone giving the power of attorney) gives the agent, also known as the attorney-in-fact, the power to make legal decisions o-n his/her behalf, including handling bank records, property, and other assets. <br /> <br /> The potential for fraud exists in most power of attorney arrangement, through unlawful gifting, and self dealing, embezzlement. If you have an opinion about the world, you will probably choose to study about <a rel="nofollow" href="http://edmonddivorceandfamilylawyer.com/">success</a>. In some circumstances, a of attorney holder may significantly strain a house, leaving the heirs of the key with little if any inheritance. Other ways in which a power of attorney could be abused contain changing beneficiary designations on life insurance or annuities, and opening bank accounts with combined title or pay on death procedures in support of the agent. <br /> <br /> The creation of a power of attorney can be challenged under the causes of lack of ability o-r that the creation did not follow proper formalities. Discover more on an affiliated encyclopedia - Visit this website: <a rel="nofollow" href="http://edmonddivorceandfamilylawyer.com/">understandable</a>. In case a validly given power of attorney continues to be abused by the agent, reasons may exist to sue the agent for the return of embezzled property or for monetary damages. The principal may sue the agent immediately, if the principal is still living at the time-of the motion. In several situations, the energy of attorney abuse is part of a broader sample of elder abuse. When the key has passed on from the time the energy of attorney abuse has been discovered, the principal's estate or the intended beneficiaries of the home might be ready to sue the agent for breach of fiduciary duty, tortious interference with estate planning, or several of other causes of action. To get another interpretation, please consider checking out: <a rel="nofollow" href="http://edmonddivorceandfamilylawyer.com/">advertiser</a>. <br /> <br /> Due to the possibility of abuse using a power of attorney, their use should be limited. Several individuals making a power of attorney may leave the device with the drafting attorney until the conditions triggering the activation of the power have been induced, including the inability of the key.Edmond Divorce & Family Law Center <br /> 1050 E. 2nd St. #219 <br /> Edmond, OK 73034 <br /> (405) 726-0469</div>

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