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Does the person who is the power of attorney have the right to change the beneficiary in the state of Pennsylvania?
No. A change in a will must be signed by the testator.
Can a Power of Attorney change the beneficiary of his mother's life insurance policy to himself?
Absolutely Not!
Can a power of attorney collect life insurance for a beneficiary on their behalf?
No, not without that persons consent. Not to mention that person would have to qualify.
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.
What happens if both primary and secondary beneficiary die. Second beneficiary had approved power of attorney to another sibling - what happens then?
A Power of Attorney expires when the principal dies.As for the other queries about what happens when a beneficiary dies you haven't explained what type of beneficiary: life insurance, estate or trust?A Power of Attorney expires when the principal dies.As for the other queries about what happens when a beneficiary dies you haven't explained what type of beneficiary: life insurance, estate or trust?A Power of Attorney expires when the principal dies.As for the other queries about what happens when a beneficiary dies you haven't explained what type of beneficiary: life insurance, estate or trust?A Power of Attorney expires when the principal dies.As for the other queries about what happens when a beneficiary dies you haven't explained what type of beneficiary: life insurance, estate or trust?
Can a sister-in-law who has Power of Attorney change the beneficiary who is the separated wife?
A "separated wife" is still married. An attorney-in-fact cannot make changes to a will. An attorney-in-fact should not make changes in beneficiaries of insurance policies unless done at the express request of the principal. Otherwise those changes will be vulnerable to challenges in court. A surviving spouse cannot be disinherited in most jurisdictions. They would be entitled to a statutory share of the estate even if disinherited in the will.
Can a Power of Attorney also be a beneficiary?
No. That type of self-dealing would be too easy to challenge in court. It would constitute self-dealing by the AIF which is a violation of statutory laws that govern fiduciaries. An attorney-in-fact under a Power of Attorney should bot be involved with the making of a will. If the principal wants to make the AIF their beneficiary, the principal should have the will drafted and properly executed by an attorney.
Can an agent named in a power of attorney change the a beneficiary designation made by the person who granted the power of attorney?
Power of Attorney paperwork usually specifies what they can make decisions on. Unless it states they do not have control over insurance policies, then they are able to change the beneficiaries and the percentage they would receive.
Who has the power to over ride power of attorney?
A POA expires when the principal dies. They have no power over the estate or the beneficiary.
Is the power of attorney entitled to a percentage of the estate?
A power of attorney has absolutely nothing to do with an estate. All power of attorneys expire on the death of the grantor.
Is a general power of attorney allowed to add self as contingent benefactor on life insurance policy?
It is the person you are naming that has the power of attorney that can be the contingent beneficiary. You would be better to create a trust and make the trust the beneficiary
If an inmates signs over power of attorney to a cousin how do they collect on a parental death insurance policy?
They don't, power of attorney doesn't make you the beneficiary. Only the person who owns the policy (usually the person the policy is on) can change the beneficiaries for the policy.
