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Generally, yes. A power of attorney gives an individual "control" of another's affairs. All the stuff comes with it. The control extends (unless it's limited) over the property and assets including the bank account - and the checkbook. You are acting for another person. Of course you get the bills. Why wouldn't you?
The individual on whose behalf you are acting has the expectation that you will act as s/he would. Take care of business. Do the right thing. All that stuff. A power of attorney tests an individual's character. A wise person would be sure to get more than just a passing mark.
Another PerspectiveA Power of Attorney is often executed for convenience purposes so that an individual, especially an elderly parent, has someone with the authority to act for them on their behalf when and if they need that help. In those cases the responsibilities can be tailored to the needs of the principal rather than creating sweeping responsibilities on the part of the attorney-in-fact. For example, an adult child can make bank deposits and pay bills for their parent during a weekly visit. That does not prevent the principal from doing their own banking or paying their own bills. It all depends on the needs of the principal. A POA executed by an elderly parent can also sit in a file until it's needed. Responsibilities can cover a broad range of expectations and possibilities depending on the situation. Therefore, the POA should be discussed at length between the parties so that each understands the terms of the arrangement.A POA grants sweeping powers and should be drafted by an attorney. Your agent(s) will have complete access to your assets and will need to be capable of keeping a good record of their actions, especially of all the money coming in and all the money going out. They must be trustworthy, organized, intelligent, reliable and act in a professional manner where your finances and property are concerned.
Wiki User
∙ 13y ago
Wiki User
∙ 9y agoCertainly it can be taken away by the grantor. Or the court can replace them.
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Can your sister-in-law take power of attorney over your husband and he not know what she did?
Of course not! A power of attorney must be granted by the person, it cannot be taken without a court order.
Can power of attorney be taken away if you become mentally ill?
Yes, Power of Attorney can be taken away if that person is mentally ill and the family of the person that requested the Power of Attorney deems fit to have that power taken away from the Power of Attorney. The Power of Attorney is an important action to look after particularly the financial affairs; bill paying, etc., of a sole person.
Can an attorney-in-fact under a Power of Attorney spend your money if you are in a nursing home?
It depends on the type of POA you gave them (in the UK there is a special type called an enduring power of attorney) and in this case the money can only be spent for your benefit (i.e. paying your nursing home bills etc). If you are worried talk to a solicitor/attorney.Another PerspectiveThe principal's money should always only be spent for the benefit of the principal. A power of attorney grants sweeping powers over all the assets of the principal and many principals have been taken advantage of by their agents. If you suspect that you or someone you know who is in a nursing home is being taken advantage of by their attorney-in-fact, you should speak to the authorities immediately.You should speak with the social worker at the nursing home or the patient's attorney. An attorney-in-fact is a fiduciary and as such is governed by the laws that control the conduct of fiduciaries. They cannot convert any funds belonging to the principal to their own use. A dishonest attorney-in-fact can wipe out savings quickly. The POA should be revoked immediately and a copy of the revocation should be delivered to any facility or entity that has accepted the POA in the past.
can my home be taken from me if i have trouble paying a bill?
can my home be taken from me if i have trouble paying a medical bill?
What precautions should be taken when paying bills online?
Avoid paying bills online from public places. Use strong passwords that you change regularly, and be aware of how much there should be in your accounts. Don't give your card numbers, PINs or other information out online in response to any unsolicited emails, even if they look like they come from your bank.
What is the Precautions to be taken by a paying banker?
precaution to be taken by a banker
Can your boyfriends stepmother sue him or lien his property if she no longer wants to be a cosigner on his student loan that is still deferred because he is still a student?
I guess she could, although she will probably have to have an attorney which would cost her. I'm thinking that an attorney would advise against it unless there was credit problem that she is trying to avoid. Is he paying his bills?? The other question is "does he own any real property like a home ... something worth putting a lien. If she does get an attorney, then I suggest that you consult with one also if your boyfriend gets a letter stating that action is being taken. Good Luck
What are some examples where power of attorney was taken away?
A Power of Attorney can be revoked at any time for any reason by the person who awarded it. No reason need be given for the action. It is EXTREMELY unlikely that one can fight the recission of a POA, since the legal power to award it, or withdraw it, resides exclusively in the person who granted it in the first place.
Can you 401K be taken for unpaid medical bills?
No
What will happen if an unmarried couple separates and one person stops paying the mortgage?
The other must pay the mortgage or the property will be taken by foreclosure and both credit records will suffer. If one will be paying the mortgage they should sue the other for their interest in the property or buy their interest out. You should consult with an attorney.
Who do you let know about being taken in a scam?
The District Attorney's office and the State's Attorney's office.
Ratification of Power of Attorney?
Ratification of Power of Attorney(Download)STATE OF _________________COUNTY OF _____________________________________, having been sworn or affirmed to tell the truth, states:WHEREAS, on ____________, ___________________ executed a power of attorney naming myself as their attorney in fact, and,WHEREAS, on _______________ I began to act under that power, and,WHEREAS, ________________ is requesting verification that the power is still in force and effect,________________________, having personal knowledge of the facts and circumstances herein, certify that the power of attorney referred to herein is still in full force and effect and that I am not aware of any event which would result in the power of attorney lapsing having taken effect.Dated: ________________________________________________________________________________________________Sworn to and subscribed before me on ___________________, 199___._______________________________________________________Notary PublicMy Commission Expires:Ratification of Power of AttorneyReview ListThis review list is provided to inform you about this document in question and assist you in its preparation. This document seeks to affirm and ratify the continuing appointment as Power of Attorney. This is a wise choice for someone caught up in an ambiguous or troubled situation who has a Power of Attorney. To avoid later blame, getting a ratification is a smart move.1. Make multiple copies. Give each party with an interest in the matter a copy.
