Power of Attorney

In Georgia, a power of attorney (POA) does not grant the agent the authority to change the beneficiary of an IRA unless the POA specifically includes that power. Typically, the authority to change an IRA beneficiary is reserved for the account owner. Therefore, if the POA document explicitly allows the agent to make such changes, they may do so; otherwise, they cannot. It’s advisable to consult a legal professional for specific guidance in these situations.

Power of attorney is an extremely valuable estate planning tool. The power of attorney is an authorization you give to someone in order make decisions on your behalf when you become incapable of doing so because of injury or some other circumstance. You can have a power of attorney and appoint alternates for the position or you can have three that would need to come to a consensus. Having two may cause problems if they handle the same issues, however it is possible and something to discuss with your estate planning attorney.

The answer is 'it depends'.

Accepting the role of power of attorney carries with it certain responsibilities and liabilities, most of the time, family members are appointed as attorney, and ordinarily it would not make sense for them to be paid. In my experience, no family member who has ever been appointed power of attorney has ever been paid.

Most of the time, is a lay person seeks payment, it is a ruse to cover up abuse of the attorney powers.

Professionals acting as attorney however, be they estate practitioners, solicitors, legal executives or financial advisers should be compensated for their time at the normal rate they would charge for their services.

Be that as it may, it is always a good idea to have one's estate planning including power of attorney set up by a suitably qualified and experienced professional - it is not unlike erecting a building, the importance of the foundation could not possibly be overstated. Part of the duty of the estate professional in setting up the power of attorney would be to describe and enumerate the conditions in which the attorney would act and the amount of remuneration [if any] to which the attorney would be entitled.

In short, the power of attorney's entitlement to payment would only exist if it were set out in the documents appointing the attorney.

No, a power of attorney cannot stop your upcoming marriage. A power of attorney grants someone the authority to make decisions on your behalf in specific matters, but it does not extend to personal decisions like marriage. Ultimately, the decision to marry is yours alone, and a power of attorney cannot override that choice.

No, a person does not need to be found incompetent for a medical Power of Attorney (POA) to make decisions on their behalf. As long as the individual is competent at the time the POA is activated, the designated agent can make medical decisions according to the terms outlined in the POA document. However, if the individual becomes incompetent, the POA typically remains in effect, allowing the agent to act in the person's best interest.

To adjudicate a Power of Attorney (POA) granted by a Non-Resident Indian (NRI) to his mother for purchasing property in Bangalore, the NRI must execute the POA on a non-judicial stamp paper, duly notarized in the country of residence or by an Indian consulate. The executed POA should then be registered with the local sub-registrar in Bangalore, where the property is located. Additionally, the NRI must ensure compliance with the Foreign Exchange Management Act (FEMA) regulations regarding property transactions in India. It is advisable to consult a legal expert to ensure all legal requirements are met.

A principal can confer authority on an agent both in writing and verbally, depending on the nature of the authority being granted. While written authority is often preferred for clarity and to provide proof of the agent's powers, certain types of authority, such as those for routine transactions, may be established through verbal agreements. However, for specific legal or formal transactions, written authority is typically required to ensure enforceability and to protect the interests of all parties involved.

Compass Bank does not offer a medallion signature guarantee service itself, as this service is typically provided by banks and credit unions for specific transactions. However, you may be able to execute a power of attorney document at Compass Bank if it meets their requirements. It's advisable to contact the bank directly for details on their policies and whether they can assist with your specific needs.

Yes, but it is not that easy.In Australia, a person who is trying to get control has to have prove that this person can not look after themselves. In my own family i have seen this done to an 83 yo uncle who had lived in the same house for about 60 years with his late wife. this man had his marbles ,fed himself, lov'd reading westerns , and was content to live his last days his way. his daughter talked him in to signing over power of attorney ( his big mistake) so she could "look after him"....Look after him heck no!, in a matter of a few months, she had him out and living in a one room setup in aged care, had the house, all his possessions sold. This man suffered a great deal for what she had done to him , over 5 weeks i watched him slowly die. i spent a lot of time with him and seen the tears. She now lives in a big house over looking a beach front....I never really knew what it was like to hate until this happened but i do now..Uncle Cess simply died from a broken heart...what goes round comes round...this woman's husband now has cancer, she will now will realy have a big house to roam around in now.

The person with the power of attorney has to sign for the individual.

No. POA's become null and void at the time of the grantor's death. The administrator of the deceased person's estate is responsible for the payment of creditor debts and other matters.

If the custodian is the custodian or successor of the UGTMA in the event of the custodians death - yes by definition that is the custodians responsibility. If the custodian is, for example, the custodian of the estate of the adult who had custodial control of the UGTMA account the situation is different. A successor trustee is normally required when setting up the custodial account. If so, that successor custodian as named in the UGTMA account would have those powers. In this example, if the successor custodian is different on the UGTMA account than the custodian or trustee of the estate, the UGTMA account successor custodian would take precedence. Remember, the assets are in the minors estate not the custodians.

The legal standards for executing a statutory power of attorney vary from jurisdiction to jurisdiction. Generally, the principal must be competent and must execute the POA voluntarily. Generally it must be acknowledged in front of a notary and if it is signed in New York or California, for example, it must have an additional addendum for the notary.

It is important to check the requirements in your particular state or country.

The only thing I wasn't clear on was whether the beneficiary was your daughter or the policyholder's daughter.

In any case, the "daughter" is the POA and the only person who can act in the policyholder's name. You as the sister cannot.

I'm sorry he has dementia, but the presumption is he chose who he wanted to act for him while he was lucid.

(If it's your daughter who has POA, that should make it easier - you could just ask her to do it. Bear in mind, she must in theory be acting in his best interests, not her's or your's, though.)

An attorney-in-fact under a Power of Attorney has complete access to the principal's assets including bank accounts.

A power of attorney only represents a living person. After their death, the sons will have to have the court appoint an executor for the estate.

No. To handle an estate you need letters testamentary from the probate court.

No. To handle an estate you need letters testamentary from the probate court.

No. To handle an estate you need letters testamentary from the probate court.

No. To handle an estate you need letters testamentary from the probate court.

No. A power of attorney is only an authority to act on your behalf while you are living.

You can check to see if it was recorded in the land records where the principal resides. Otherwise, you must contact the attorney who drafted the POA.

You can check to see if it was recorded in the land records where the principal resides. Otherwise, you must contact the attorney who drafted the POA.

You can check to see if it was recorded in the land records where the principal resides. Otherwise, you must contact the attorney who drafted the POA.

You can check to see if it was recorded in the land records where the principal resides. Otherwise, you must contact the attorney who drafted the POA.

It depends on the type of case.

If they are mentally competent, yes they can. They simply need to execute the statement to that effect.