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Can you cash a savings bond for someone in a nursing home if you have power of attorney?
Wiki User
∙ 12y ago
Yes. Make certain the person has directed you to do it and make certain the money is used for their benefit.
Yes. Make certain the person has directed you to do it and make certain the money is used for their benefit.
Yes. Make certain the person has directed you to do it and make certain the money is used for their benefit.
Yes. Make certain the person has directed you to do it and make certain the money is used for their benefit.
Wiki User
∙ 12y ago
Wiki User
∙ 12y agoYes. Make certain the person has directed you to do it and make certain the money is used for their benefit.
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Can you cash a savings bond for someone who is deceased if you have power of attorney?
Power of attorney is not valid after the death of the principle. You will have to be appointed executor to cash a savings bond.
What kind of attorney can handle a power of attorney?
Anyone can act as a power of attorney for someone else. You do not have to be an attorney
Can life insurance beneficiaries be changed when someone has alzheimer's?
If a life insurance beneficiary has alyztimers and is in a nursing home, can the power of attorney or nearest living relative receive it?
How do you cash savings bond when owner has died?
with having a power of attorney I think.
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.
Who normally has power of attorney when someone dies and leaves a will?
When someone dies and leaves a will, it does not always state who has power of attorney. To gain power of attorney, one would need to complete a form, naming the person they wish to pass power of attorney to.
Can someone with Power of Attorney access funds after someone dies?
No they will not be able to access funds. A power of attorney expires on the death of the grantor.
Can one assign a medical proxy or power of attorney?
No. An attorney-in-fact or agent under a Power of Attorney cannot assign their power to someone else.
Can someone other than your wife be your power of attorney?
Yes, you can appoint anybody to hold your power of attorney.
What is a financial power of attorney or FPOA?
A financial power of attorney gives someone the authority to conduct business for you.
Can you file a divorce for someone if you have power of attorney?
No.
Can a Power of Attornery change the beneficiary of his father's life insurance if both he and his wife are in a nursing home?
Generally an attorney-in-fact under a Power of Attorney cannot make changes in beneficiaries. However, you should review the original Power of Attorney document.
