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Can a holder of a power of attorney make financial transactions even if the accounts are joint with someone else?
Wiki User
∙ 13y ago
In GENERAL- yes. If I am going to be overseas, and I give my son (an adult) a power of attorney for me- and I have a joint bank account with my wife- my son can act in my place. This is why a Power of Attorney should be carefully considered, and possibly a Limited Power of Attorney granted, rather than a full.
Wiki User
∙ 13y ago
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What does it mean that someone has power of attorney over a bank account?
Giving someone financial power of attorney is an effective legal way to hand over one's financial management to someone else, in case one becomes unable to take responsibility for one's own financial decisions.
What is a financial power of attorney or FPOA?
A financial power of attorney gives someone the authority to conduct business for you.
Who is someone who produces detailed accounts and financial spreadsheets?
an accountant or financial analyst
What are the basic function of accountant?
The basic functions of accounting are:Interpret and record business transactions.Classify similar transactions into useful reports.Summarize and communicate information to decision maker.
Who should get a power of attorney?
Anyone who would like someone else to act in their place for financial or medical matters.
Who fills out ledger card?
A ledger card is typically filled out by an accounting professional or someone with a thorough understanding of bookkeeping. A ledger card is an important document that helps to keep track of financial transactions. It typically contains details about the date amount and type of transaction. Accounting professional Someone with a thorough understanding of bookkeepingLedger cards are used to record and track all types of financial transactions including sales purchases payments and receipts. They are an important part of the accounting process as they provide a clear record of all financial transactions. Ledger cards also help to ensure accuracy in financial reporting.
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.
Merchant Credit Accounts?
form_title=Merchant Credit Accounts form_header=Get help with transactions from a Merchant Credit Account. Is there someone in your company that handles your merchant credit accounts?= () Yes () No () Not Sure What field of business is your company in?=_ Will you do any business online?= () Yes () No () Not Sure How much do you anticipate processing?=_
Can a Power of Attorney refinance a house?
Yes, you can assign someone else to do the refinance for you as a POA form allows you to have someone act in your place for all financial acts legal under law, you can assign a durable, general, or limited power of attorney form.
Do you record cash as revenue if you owe it to someone else?
If you "owe" cash to someone else, then it is an amount you will have to pay out. This is a liability not an asset. Two main accounts record such transactions Accounts Payable Notes Payable Once paid it is recorded as an expense. If a person owes "you" the money, then it becomes an asset and goes in either Accounts Receivable or Notes Receivable Once received it is recorded as Revenue (or income)
Where to buy a motorcycle does eBay take care of the financial transaction?
No, eBay does not get involved in any financial transactions at all. If you receive an email telling you that eBay will hold the money until you are satisifed with your purchase, it will be a fake and someone is trying to scam you out of your money.
What is power of attorney?
legal document set up to enable someone to act in financial and legal matters for someone else. Can put restrictions on it so someone cant for example sell your house but could go to the bank for you
