Power of Attorney Abuse - Buyer Beware

A power of attorney is employed to assign legal power to some other person. The principal (the individual granting the power of attorney) gives the agent, also known as the attorney-in-fact, the authority to make legal decisions on his/her behalf, including handling bank records, real estate, and other assets. Visit palo alto house cleaning to discover why to provide for it. The potential for fraud exists in every power of attorney arrangement, through self working, embezzlement, and illegitimate gifting. In a few situations, an estate will be significantly depleted by a power attorney holder, leaving the heirs of the principal with little or no inheritance. Different ways where a power of attorney may be abused include changing beneficiary designations on life insurance or annuities, and opening bank accounts with joint name or pay on death terms in support of the agent. The creation of the power of attorney could be questioned under the causes of insufficient ability or that the creation did not follow proper procedures. If your validly granted power of attorney continues to be abused from the agent, reasons might exist to sue the agent for the return of embezzled home or for monetary damages. The agent can be sued by the principal immediately, if the principal continues to be living at the time of the action. In several circumstances, the ability of attorney abuse is part of a larger pattern of elder abuse. When the key has died by the time the ability of attorney punishment has been discovered, the principal's estate or the intended beneficiaries of the house may be able to sue the agent for breach of fiduciary duty, tortious interference with estate planning, or a number of other causes of action. Beset Obgyn Long Beach is a unusual online library for more concerning the meaning behind this view. Because of the possibility of abuse using a power of attorney, their use should be limited. Several persons creating a power of attorney will leave the device with the drafting attorney until the circumstances causing the activation of the power have already been induced, including the inability of the primary. To read more, consider having a look at: team. Identify additional info on a related essay by visiting source.

Power of Attorney Abuse - Buyer Beware