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If you have durable power of attorney are you responsible for the debtors after death?
Outfoxu
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.
Wiki User
∙ 13y ago
Wiki User
∙ 11y agoAs long as you identify yourself as the attorney-in-fact whenever you discuss anything or sign anything, you should not be liable for the debts.
Wiki User
∙ 14y agoNo, you are not responsible for the debt. The power of attorney terminated at the death of the deceased. The estate is responsible to resolve the debts.
Wiki User
∙ 8y agoThe estate may hold you responsible. The power of attorney expired on death of the individual. The executor is now responsible for the assets.
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Does a will exceed a durable power of attorney after death?
A durable power of attorney represents a living person. The will takes effect on the death of the grantor.
What happens to the durable power of attorney when the person passes?
The power of attorney represents a living person. The durable power of attorney will end with the death of the grantor.
Does durable power of attorney always terminate with the death of the granter?
The power of attorney represents a living person. The power of attorney always ends with the death of the grantor.
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 a durable power of attorney for minor child remain in effect after death of principal?
A power of attorney is no longer effective after the grantor dies.
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 After their death, the power of attorney is no longer valid.
What is the maximum length of time a durable power of attorney is valid?
A DPOA is valid until the death of the principal.
Can the person who holds a Durable Power of Attorney cancel arrangements made with a cemetery?
Your power of attorney ceases upon the death of the person who awarded it to you. Therefore you would have no authority after the person's death, to choose their cemetery or anything else.
Are minor heirs responsible for debt after death?
Heirs are not responsible for any debt. The debt is the responsibility of the estate. If there are not adequate assets, the debtors don't get paid and the heirs will not receive anything.
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 you as a child be held responsible for parents debts after death?
In most cases the debts of the deceased, including funeral expenses, are the responsibility of the estate. The estate, or its beneficiary should reimburse any valid debtors before giving any of the assets away. Consult a probate attorney in your jurisdiction for help.
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.
