0
Can a Power of Attorney remove money from a bank account and then put it in there name?
Wiki User
∙ 12y ago
If it is in "THERE" name, No. If it is in "THEIR" name, maybe.
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
How do you put money that is your own in a bank account without using your own name?
You can put it into a trust account owned by an attorney; you can set up a trust of your own and open an account in the name of the trust, with a trustee's name; you can use the money to capitalize a new corporation of which you're the only shareholder and then deposit the money in the corporate account, among other ways.
When can you add or remove money from a savings account?
You can do it anytime. There are no restrictions as to when you can deposit or withdraw funds from your savings account. It is your account and your money and so you can use it anytime you want at your will and wish. The bank cannot and will not stop you from doing so.
Who can take money out of your bank account?
The following people are authorized to take money out of your bank account:You - Since you are the owner of the bank account you are always authorized to take money out of your account without any preconditionsJoint holders of the account if the account is a joint account.Anyone who has your ATM Card and PIN number (Though you are supposed to keep your card and pin number safely and not share it with anyone, technically someone who has possession of your card and the correct PIN number can take money from your account)Anyone who has a check signed by you with their name as the payee can cash that check against your account although they are not actually taking money out of your account.Any bank or loan institution with whom you have a standing arrangement whereby they can debit your monthly installment for loan repayment directly from your bank account.Anyone who has the legal power of attorney provided by you.Any judgment creditor can have a lien placed on your account and take the funds to satisfy the lien.Your funds can be taken to satisfy child support arrears.
Can a bank manager draw money from cc account without notice for loan?
I am not sure what you mean. A bank can not remove money from customers accounts except as detailed in the terms and conditions for having an account with the bank signed by the customer when opening the account or notified to the customer as a variation in terms and conditions.
If you deposit your money into another persons bank account can they take money out of their account?
It IS their account. The only way to keep the money in an account is to sign up with them for an account that requires both signatures for withdrawal. Otherwise, the money will be used.
What happens if you take money out of deceased dads bank account without power of attorney?
A power of attorney represents a living person, so any power of attorney is no longer valid. They would have to be on the bank account or the executor to legally take the money out.
If there is two names on a CD account at the bank and one dies can power of attorney take the money out?
If the power of attorney represents the deceased, no, they cannot. A power of attorney expires on the death of the grantor.
Can you still write checks on an account that includes your name after your mothers death with a durable power of attorney?
If you are one of the account holders, yes. You do not need a power of attorney to do so. Also a power of attorney expires on the death of the grantor.
Can power of attorney be abused?
Of course they can be abused. Some people often remove money from accounts illicitly.
Is it legal for a person who has power of attorney to with draw money from an account after the person is deceased in Ohio?
Yes. A Power of Attorney gives the holder of the same, unlimited power in terms of carrying out any kind of activities on the issuer's name. The holder of the power of attorney can act as a proxy to the issuer and carry out banking transactions on his behalf. It is perfectly legal.
If your dad has left money in his account but his partner has had power of attorney over his affairs and has been taking the money out can you as a daughter do anything about it?
Call the police! Does your dad know about this? If not, then talk to him about it! He will take care of it!
Lets say - Judge Judy awards the plaintiff x amount of dollars for winning their case. I would like to know how does that plaintiff get paid. Does the plaintiff have to deposit the money into Court?
NO your Money will be deposited into a escrow account by your attorney. An escrow account is an account that your attorney name and your name is on that account. To make any withdrawal from tha account have to made by your attorney. You can close that account once that attoney receive their cost. but to close that account you are basically firing or relieving that attorney.
Does pwer of attorney give you power of the deceased person money?
No. A power of attorney ends upon the death of the principal.
How do you go about getting money from my late husbands account it didnt have me on the account and hade no beneficiary on the account?
Get a Power of Attorney letter from your legel counsel stating you are claiming the amount in your late husband's account. Also enclose proof that you truly are the wife of the late account holder.
Your father gave you power of attorney for all financial matters He has a joint account with his wife Do you have any control over the money in his joint account?
You have the ability to represents the living person. That would include the ability to empty a checking account.
When a person dies and no one name was on it but hers can a family member get the money out if they were her power of attorney?
The power of attorney has no rights after the death of the grantor.
Can a power of attorney disperse money from a will or does a lawyer have to do it?
A Power of Attorney has no rights to do anything with the estate. Any power of attorney that existed became null and void at the death of the grantor. The executor distributes the estate.
