Can your POA agent open a joint checking account in your name with himself as a joint owner without your signature?

Answer 1

POAs, depending on what type and the terms agreed upon (POA docs must state that you have the ability to perform financial transactions on their behalf), may do things on your behalf, but cannot become a joint owner on a new account. In cases of Springing POAs, (POA agent status only when you become incapacitated) you could have a joint account, but this is only when there is a pre-existing joint account. As a POA agent, you MAY be able to open accounts on behalf of this person, but when he/she passes away or revokes the POA agreement, the account is closed, transferred into their name, and you will no longer have access to the funds. So if you know that this person will be incapacitated for a long period of time, or will pass away, it may be in both of your interests to go to the courts and establish you as the Administrator (still living) or the Executor (passed on) of their estate. This can be court appointed if this person is incapacitated, but usually this is done while the person is still healthy and well. Admins and Execs typically have more priviledges than POA as to what they can do. If you still have more questions, I would suggest contacting a lawyer or you can always go to a college that offers law degrees.. they often have senior students that provide legal advice (with assistance from actual lawyers) for free.

Answer 2

The ability of a Power of Attorney (POA) agent to open a joint checking account in your name without your signature depends on the specific terms and authority granted in the POA document. Generally, a POA agent can manage financial matters on your behalf, which may include opening accounts. However, it is best to consult with a legal professional or review the specific language in your POA document for clarity and to ensure compliance with applicable laws and regulations.