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No, they only are allowed to sign papers and act in place of that person in legal matters.

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โˆ™ 2006-03-30 22:30:45
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Q: When a person becomes a financial power of attorney for someone are they responsible for the debts of that person?
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What does it mean to give someone financial power of attorney?

Giving someone financial power of attorney is an effective legal way to hand over one's financial management to someone else, in case one becomes unable to take responsibility for one's own financial decisions.


What is a financial power of attorney or FPOA?

A financial power of attorney gives someone the authority to conduct business for you.


What types of decisions can be made by someone who has a general power of attorney?

A person can make financial decisions on behalf of someone else if they have a general power of attorney. If one is not capable of making own financial decisions, then one must give someone else a general power of attorney.


Maryland durable general power of attorney?

This does not exist, it is either a Maryland general power of attorney which gives someone the right to act on someone else's behalf for financial reasons, but the form becomes VOID if the person granting power becomes incapacitated or too ill to think for themselves-or-Durable power of attorney which is the same thing as the general except the durable stays VALID if the person granting becomes too ill to think for themselves.


What if there is no power of attorney and someone becomes incapacitated?

If someone is incapacitated and cannot execute a power of attorney then someone must petition the court to be appointed a legal guardian or conservator.


When to be power of attorney?

You can act as power of attorney for someone when you turn 18 years of age and someone decides that they want you to represent them for financial and medical decision making.


Can a power of attorney get credit cards?

Yes, a power of attorney can make an action on someone else's behalf for financial reasons.


Can you get a power of attorney from a bank?

Some financial institutions make available a specific power of attorney for their account holders use. They are used to give someone the authority to conduct financial transactions with only that financial institution.


What does a Power of Attorney do?

It allows someone else to act in your place for financial or medical decisions.


Is a daughter as power of attorney for her father responsible for filing his federal tax returns?

The father is responsible for filing the return. One of the reasons someone appoints a power of attorney is to take care of such things.


Who should get a power of attorney?

Anyone who would like someone else to act in their place for financial or medical matters.


What are all the tasks required for a collection attorney to perform?

A collection attorney has many tasks that they perform. A collection attorney is responsible to contact those responsible of owing money to someone or a company, and working on how that person will pay the money. After how is worked out, the collection attorney keeps track of the payments and if any are missed, will visit or contact the person.


What is the difference between a durable power of attorney and a traditional power of attorney?

An attorney of power is an official document that allows someone to act on someone other's behalf. There is just one difference between the durable and the traditional (regular) power of attorney, that is, when a person becomes disabled, the durable attorney of power is still effective, whereas in case of the regular attorney of power the validity ends.


Who is responsible for a will if executors have died?

The court will appoint someone as executor. They often use a bank or attorney to handle the matters.


How can a father voluntary relinquish rights in Oklahoma?

He needs to find someone to transfer them to, someone who will then be responsible for the child's welfare and financial needs in the father's place.


What is the difference in a Durable Power of Attorney and an Irrevocable Power of Attorney?

durable and irrevocable are legal forms that allows someone to act in all financial powers for someone else that is legal under law Irrevocable power of attorney is a form that allows the same actions as the durable form but cannot be canceled or voided.


Can a Power of Attorney refinance a house?

Yes, you can assign someone else to do the refinance for you as a POA form allows you to have someone act in your place for all financial acts legal under law, you can assign a durable, general, or limited power of attorney form.


What makes you a co-signer on a credit card account and liable for the debt when the person who initiated the account dies?

Someone who becomes a co-signer for a financial transaction is pledging to be responsible for the debt if the primary borrower defaults. FYI, an authorized user of a cc account is not the same thing, and is not responsible for the cc debt.


What if someone is in a coma and needs his her family to handle their financial affairs and has not left a Power of Attorney what can be done?

Apply to the probate court for an emergency power of attorney. The hospital can probably assist and will have to provide some documentation.


Can an incompentent revoke power of attorney?

No, a legally incompetent person can no longer act for themselves. A General Power of Attorney expires when the principal becomes incompetent. A Durable Power Of Attorneyremains effective even after the principal becomes incompetent. In that case, the Durable POA would be extinguished if someone petitioned the court and was appointed the conservator or guardian of the principal.


What to do when your mother passes away and owes a lot of bills and has no estate is the power of attorney then responsible for those bills?

The power of attorney ends with the death of the grantor. Someone will open an estate in order to settle the debts.


How do you get a power of attorney on someone who is in the hospital?

Many states provide statutory power of attorney forms for financial and medical matters that are easy to understand and you only need to fill in the blanks and sign it. You can find these statutory power of attorney forms at businesses that sell legal forms.


What is power of attorney?

legal document set up to enable someone to act in financial and legal matters for someone else. Can put restrictions on it so someone cant for example sell your house but could go to the bank for you


How to get power of attorney?

A power of attorney is a written instrument. You can purchase a fill in the blank form or have an attorney prepare a power of attorney for you.Power of Attorney allows you to choose someone else to act in your presence for any financial or medical matter legal under the laws of your State. There are four main power of attorney forms: durable, general, limited, and medical. All of which preform a specific duty.


Can someone that has full power of attorny have banks or other financial statement sent to you?

Answer Anyone who has Power of Attorney has to go to these financial instutes with the papers that were granted by a court of law and show them as proof before any financial instution will release anything. The reason for this is security. Anyone can say they have Power of Attorney so the banks will demand that proof is given before they release anything to anyone.