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If you have power of attorney am I responsible for existing debt at death?
Wiki User
∙ 15y ago
No. POA's become null and void at the time of the grantor's death. The administrator of the deceased person's estate is responsible for the payment of creditor debts and other matters.
Wiki User
∙ 16y ago
Wiki User
∙ 15y agoIf the person who granted the Power of Attorney has died, the POA is extinguished and you have no further authority or obligations. The decedent's estate is responsible for their debts.
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Are you responsible for person finances after death with a general power of attorney?
A power of attorney represents a living person. After their death, the power of attorney is no longer valid.
If you have durable power of attorney are you responsible for the debtors after death?
If the attorney-in-fact is responsible for paying the principal's bills there may be an investigation if there are unexplained unpaid debts remaining after the death of the principal a court can order an accounting and the attorney-in-fact will be required to provide a record of all the money that came into the principal's (living) estate and an account of all the money that went out. An attorney-in-fact who mishandles a principal's assets will be held personally liable for damages and repayment and may face criminal charges. An attorney-in-fact who performs their duties properly is not personally responsible for any debts of the principal unless they agreed so in writing.
Can a lifetime estate be ended by a power of attorney?
No. A power of attorney ends with the death of the principal.No. A power of attorney ends with the death of the principal.No. A power of attorney ends with the death of the principal.No. A power of attorney ends with the death of the principal.
Does a will over power a powerof attorney?
The fact that there is a will doesn't matter. The power of attorney is valid until the death of the person it is associated with, or it is revoked, whichever comes first. The guardian is responsible for taking care of the individual. If the person handing the money (power of attorney) can't agree, they will have to go to the probate court for resolution.
Is a daughter who was power of attorney prior to her father's death responsible to the IRS for his debt when there is no estate?
No. The father's estate is responsible for his debts. If there is no estate the creditor is out of luck.
Does power of attorney cease upon death in fl?
The power of attorney represents the living person. The power of attorney ends in Florida with the death of the grantor.
Does power of attorney end after death in NC?
The power of attorney represents the living person. The power of attorney ends in North Carolina with the death of the grantor.
Does Oklahoma allow power of attorney after death?
A power of attorney represents a living person. After their death, the power of attorney is no longer valid in any state.
How long does a Power of Attorney keep papers after the death?
A power of attorney represents a living person. Immediately after their death, the power of attorney is no longer valid.
Does enduring power of attorney cease at death?
Yes, upon death any power of attorney granted by that person ceases to be effective.
Will power of attorney be liable for existing loan?
No. A power of attorney is only an authority to act on your behalf while you are living.
What to do when your mother passes away and owes a lot of bills and has no estate is the power of attorney then responsible for those bills?
The power of attorney ends with the death of the grantor. Someone will open an estate in order to settle the debts.
