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As power of attorney for a son at war would you be responsible for his debt while he is overseas?
Wiki User
∙ 15y ago
Look into the Soldiers and Sailors Act. Under this FEDERAL law, the debt should gather NO INTEREST, and NO PENALTIES for the bill not being paid. It DOES require you notify the creditors in writing that the person was sent overseas on military duty. So when you mail the letters make SURE you send them certified mail or at least get a delivery receipt.
The act basically puts debts on pause until the person returns home.
Wiki User
∙ 15y ago
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What is the difference of power of attorney and a will?
A will directs who will receive your property after you die. A power of attorney gives another person the legal right to do things on your behalf. While I was serving overseas in the US military, I gave my wife a power of attorney. She could open or close bank accounts in my name, sell a house or car in my name, etc. Please note that I was (and still am!) alive.
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.
Can someone with Power of Attorney access funds after someone dies?
No they will not be able to access funds. A power of attorney expires on the death of the grantor.
Can you get a power of attorney for a dead grandson?
No. The power of attorney comes while the person is alive. You need to go to probate court and become executor of his estate.
What happens if a power of attorney refuses to show the will?
The power of attorney represents a living person and a living person has no obligation to share or show a will. The power of attorney ends with the death of the grantor and they have no say in the estate.
Does a durable power of attorney in TN cease upon death?
Yes, it will end upon death. A power of attorney is only valid while the grantor is alive.
Can an Executor who has Power of Attorney take money out of the Estate before the estate owner dies?
The terms you used in your question are used incorrectly. A person cannot be an attorney-in-fact under a POA and an executor at the same time. A power of attorney serves a living person. There is no executor appointed until the testator dies.A POA gives an attorney-infact the authority to act on behalf of a living person (the principal). An attorney-in-fact is prohibited by law from transferring the assets of the principal to their own use. When the principal dies the power of attorney is extinguished and an estate representative must be appointed. An executor is appointed by the court if the decedent left a Will. A person isn't an executor until the will has been allowed by the probate court and the court has appointed the executor.You need to consult with an attorney ASAP who can review your situation and explain your options. You may need to sue the AIF.
Are transactions made during a person's life using a power of attorney void after death?
No, transactions that were completed while the principal was alive remain valid under the power of attorney. However, no new transactions can be based on the power of attorney after the principal's death.
Can 2 persons be named to living will power of attorney?
While a living will typically does not carry with it a power of attorney, the general rule is that a person can name as many people to have a power of attorney as he/she wishes, but it would complicate matters to name more than one.
Limited Power of Attorney: Definition and Tasks?
A limited power of attorney occurs when one person grants someone else the limited right to make decisions and act on his behalf. The person who establishes this limited power of attorney is known as the principal while the person who is granted the power of attorney is known as the agent. The principal is able to establish the attorney for various reasons. For instance, a regular power of attorney can grant an agent the right to act and make decisions for the principal without limit while the limited power of attorney would only give the agent specific rights with strict limits. It is not uncommon for a person to hire a power of attorney with the intention to protect himself in the event that he becomes incapacitated. For instance, the power of attorney agent power as far as medical decisions are concerned, meaning they could make a medical decision regarding the principal should the principal be unable to make a coherent decision for himself. This specific situation would be known as a living will. The principal may use a limited power of attorney for the purposes of having an agent control specific things. For example, a principal may want to use the limited power of attorney in order to control one bank account. While the agent would not be granted the right to handle all general financial matters or health decisions, he would be allowed to make decisions with regards to that one specific bank account on behalf of the principal. An individual may also choose to establish a limited power of attorney for a reason other than the fear of becoming incapacitated. For instance, should a person intend to join the military and travel overseas, he may wish to grant his wife a limited power of attorney over his owned assets in case there are decisions that need to be made with regard to those assets and he cannot act while he is overseas. Choosing to hire a power of attorney is an important planning step. When you limit that power, the principal is able to take the steps necessary to protect their assets without fully giving up their control to someone else. It is important to be fully trustful of the agent you are vesting power toward. It is also not uncommon to vest a limited power to mulitple, various agents.
Can the power of attorney close your safe deposit box while you are still living?
If you have given the individual the ability to represent you, yes, they can. Note that a power of attorney ends at the death of the grantor. You need to be careful who you give a power of attorney to and limit it to specific transactions or time frames.
Can someone have medical power of attorney at the same time be executive to the patients will?
Yes, someone can have medical power of attorney and be named as the executor of a patient's will at the same time. These roles serve different purposes and do not necessarily conflict with one another. Medical power of attorney grants an individual the authority to make healthcare decisions on behalf of the patient, while the executor of a will is responsible for handling the deceased person's estate and carrying out their wishes as stated in the will.
