Yes. A Power of Attorney gives the holder of the same, unlimited power in terms of carrying out any kind of activities on the issuer's name. The holder of the power of attorney can act as a proxy to the issuer and carry out banking transactions on his behalf. It is perfectly legal.
Only the legal heir of the deceased person can access his account. The legal heir must carry proof for his legal status as heir to the deceased person and also proof that the account holder is no more, in order to gain access to his account. If you cannot provide proofs for either of the above mentioned things, the bank does not have a legal obligation to provide access to the deceased individuals account.United StatesThe account can only be accessed by the court appointed estate representative, i.e., executor or administrator.
As long as there are enough funds in the account that the check is being drawn from to cover the amount of said check and that YOU would have the legal right to withdraw funds from that account. Yes.
Yes. Both the owner/proprietor of a bank account and the person to whom they have given power of attorney can operate a bank account. Actually a person with power of attorney is as good as the person (in legal terms) itself and so they both can operate the bank account without any issue.
A POA is extinguished at the moment of death. If a POA was used to sell the property of a deceased person the sale was null and void. The former attorney-in-fact had no legal interest in the property, couldn't sell it and committed a fraud. The buyer did not get title to the property.
They actually don't need anything. However if someone needs to withdraw the money from that account of the deceased person they must:provide proof that the person is actually deceased (A death certificate)provide proof that he/she is the legal heir of the deceased (A will or a relationship proof that they are the son/husband/wife/daughter of the deceased)Once the bank verifies these documents, they will release the funds from the deceased persons accounts to you. Without these you cannot take any money from that account.
only id he had power of attorney for after he was deceased
It depends. a. If the deceased individual has a legal will, the people mentioned in his will, will be given the money from his account b. If he does not have a legal will, then his legal heirs (spouse and/or children) will be given the money from his account c. If he does not have any spouse or children, then the remaining family members will be given the money
It depends upon the way the account was established. If the account was joint then there are not legal grounds for an audit. If the account was held solely by the deceased and withdrawals or transfers were made after the person's death or during a time when the person was incapacitated by someone who did not hold a POA or conservatorship, questions will be asked.
Only the legal heir of the deceased has the right to close the account. He/she must take valid identity proof, relationship proof and death certificate of the deceased along with the documents that prove that he/she is the legal heir of the deceased person to the bank to close the account.United StatesIn the United States, closing a decedent's bank account is a more formal process. You need to provide the bank with proof that you have the legal authority to close the account. That means you need proof from the probate court of your appointment as the representative of the estate or other official authority as that issued for a small estate. Proving that you are "the" heir is not enough unless the estate has been officially closed and shows that you are the only heir to that account. During the probate process, only the court-appointed estate representative has the authority to access a decedent's bank account, not the heir(s).
You cannot acquire a Power of Attorney for a person who has died. If there is property that must be transferred, and no will, you must petition the probate court to be appointed the Administrator of your deceased sibling's estate.
If that person has legal capacity the answer is yes. If the person does not have legal capacity then the court must appoint a guardian.
Yes, If you are the executor of the deceased, legal heir or have other appropriate power of attorney to do so, you can deposit the refund check.