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Can executor who is beneficiary and power of attorney take money for peronsal use before death of grantor?
Wiki User
∙ 12y ago
No. That would be a breach of their fiduciary duty.
Wiki User
∙ 12y ago
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Can a will be written by a relative who is the main beneficiary and executor and attorney of record in Oklahoma?
Anybody can write a will. However, only the individual can write a will for their own property. A power of attorney does NOT give the individual the ability to write a will for the grantor.
What happens if an executor does not have a power of attorney document?
A power of attorney expires on the death of the grantor. The executor needs a letter of authority.
After death of the grantor of POA who is in charge of the estate?
A Power of Attorney has no relationship to the estate. A Power of Attorney automatically ends at the death of the grantor. The will names an executor who will be responsible for the administration of the estate. If there is no will, the court can appoint an executor. If there is no family member that all the beneficiaries agree can be the executor, the court will appoint a bank or attorney to serve as the executor, at the appropriate fees, of course. Consult a probate attorney in your state or country for further information. The executor named in the will or the administrator appointed through the court if there is no will is in charge of the estate after death. The power of attorney has no effect once the grantor dies.
Can a granddaugther be head of estate if she was already the power of attorney?
Anyone can serve as executor. The Power of Attorney died with the grantor.
Does power of attorney also takes care of estate on items to be sold?
The power of attorney ends with the death of the grantor. The executor handles the estate.
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.
Is the power of attorney entitled to a percentage of the estate?
A power of attorney has absolutely nothing to do with an estate. All power of attorneys expire on the death of the grantor.
What is the Power of attorney estate fee in Ontario?
There is a bit of a cross up in terminology here. A power of attorney expires on the death of the grantor or subject. An executor would get an estate fee.
How do i obtain an power of attorney for deceased relative?
A power of attorney ceases upon the death of the grantor. For a deceased person, you must be appointed their executor or representative by a court. Generally, if the person had signficant assets or a complex situation this means you need to open an estate, for persons with few assets, most states have a simpler alternative.
What happens when the principal dies with his power of attorney?
A "power of attorney" refers to a written instrument, executed by one person (the principal) that allows another person (the attorney in fact) to act on their behalf. If the principal dies the power of attorney is extinguished. If the attorney in fact dies the principal must execute a new power of attorney that names a new attorney in fact.
Is a power of attorney still valid after the principal dies?
A power of attorney terminates when the principal dies.
Is it possible to arrange an irrevocable trust with the same person as grantor trustee and beneficiary?
You cannot have the same person as grantor, trustee and beneficiary in any trust. There is no trust created in such a set up. The grantor in an irrevocable trust cannot be the trustee. The property in an irrevocable trust must be permanently separated from the grantor's control.
