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Can a person who has power of attorney over a trust account change that account into a joint account?
Wiki User
∙ 15y ago
no In order to change the account you must be the Grantor of the Trust.
Wiki User
∙ 15y ago
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What if the signature on a joint credit card account was forged?
If you can show it was forged and you did not use the account then you are probably not liable. You should discuss this with a local attorney.
Can I add another person to my checking account?
Yes, a member can add anyone, age 18 or older, as a joint owner to his/her account. As long as the joint individual is eligible for a checking account through the credit union or bank. This person has total access to do transactions on only the specific account they are joint on.
Can revenue Canada freeze a joint bank account?
It is possible for Revenue Canada to freeze a person's bank account. This includes both single and joint bank accounts.
Procedure for opening of Bank Account for Blind Person in India?
The procedure for opening of bank account for blind person in India dictates that they cannot open an independent account. They are required to open a joint account with a sighted person.
Can one person remove the other persons name from a joint checking account?
No, they cannot.
Do I as a joint person on a checking account have the right to the check book One of the owners of this account has another person with power of attorney handling the account?
Yes. As a joint owner of the account you have as much right to the account as the other joint owner.
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 there is a joint account and two attorneys-in-fact under a POA with only one listed as the joint account owner who has authority to make transactions?
A joint account passes to the surviving account owner if the co-owner has died.If a person who has executed a POA is a joint owner of an account, their attorney-in-fact can access that account, or any account, on behalf of the principal while the principal is living unless the principal excluded authority over that account from the POA. Any attorney-in-fact stands in for the principal in such matters as banking when the principal has requested that they do so.A co-owner has free access to any joint accounts they own.
Can a person who is not appointed executor but his attorney tells him to close out accounts?
He can if the accounts are joint accounts and he is the joint account owner. However, if he was the joint owner for convenience purposes only the other heirs should seek their share of the funds.
Can your power of attorney close out a joint checking account for you?
Yes. The Power of Attorney entitles the holder of the same to do anything he/she wants with respect to the activities of the person who has given the power. i.e., the holder of POA can be the proxy and dispose off duties of the person who issued the POA. So, they can very well remove a person from a joint account held by the person who has given the POA.
How do you divide a joint bank account?
A joint bank account is something that is owned/controlled by more than one person. So, to divide a joint bank account, the joint account holders have to come to an agreement as to who will be the sole owner of the account. Then, they must visit the bank and submit a written request. The bank will change the account to a single owned account after receiving the No Objection Letter from the other holders of the account.
Can one person of a joint account close the account?
No. Actually, it depends on how the account is titled. If it is a Joint OR account, than yes, one person or the other can close it without the other. If it is a Joint AND account than both need to be present to close the account.
Can you be a joint owner on a bank account the beneficiary and the power of attorney on your mother account?
You can have a joint account with your mother. You do not need a Power of Attorney to manage the account because it belongs to you as the co-owner. You do not need to be listed as the beneficiary on the account because it belongs to you as the co-owner.A Power of Attorney would empower you to act on your mother's behalf in all her business and legal matters except writing her will. You should consult with an attorney if your mother is thinking of doing some estate planning. The attorney could review her situation and explain her options.
How do you write a letter to bank manger for cancel the joint account?
im not closing my account,just want to relieve my mother from my joint account and change it to single account
If you have a joint account with a person that is sued can they come after your other accounts?
No. They can only go after the assets of the person that is being sued. If you have a joint account with that person that is part of the other person's assets. Any account that is just in your name is safe as you are not the person being sued.
Are letters of testamentary needed if a person has a joint ownership of a financial account retirement and one of the owner's passes away?
No not as long you have the authority to act on behalf of that person either by title in employment setting or power of attorney.
What if the signature on a joint credit card account was forged?
If you can show it was forged and you did not use the account then you are probably not liable. You should discuss this with a local attorney.
