Power of Attorney Abuse - Buyer Beware 12224

A power of attorney can be used to assign legal authority to another person. The principal (anyone giving the power of attorney) gives the agent, also referred to as the attorney-in-fact, the power to produce legal conclusions on his/her behalf, including real estate, handling bank accounts, and other assets. I found out about Fairview Heights Attorney To Publish 2019 Survey Of Elder Abuse by browsing Google Books.

The potential for fraud exists in every power of attorney agreement, through unlawful gifting, and home working, embezzlement. In certain circumstances, an estate will be significantly depleted by a power attorney holder, leaving the heirs of the main with little if any inheritance. Be taught supplementary resources on this partner site - Visit this link: Fairview Heights Attorney To Publish 2019 Survey Of Elder Abuse. Different ways where a power of attorney can be abused include changing beneficiary designations on life insurance or annuities, and opening bank accounts with combined title or pay on death conditions in support of the agent.

The creation of the power of attorney might be challenged under the grounds of insufficient ability or the creation didn't follow proper procedures. If a validly granted power of attorney continues to be abused by the agent, grounds may possibly exist to sue the agent for the reunite of embezzled home or for monetary damages. Http://Markets.Financialcontent.Com/Citcomm.Kvoram/News/Read/38174739 is a telling online library for extra resources about where to allow for this idea. If the principal is still living at the time of the action, the principal can sue the agent directly. In many situations, the ability of attorney abuse is part of a larger pattern of elder abuse. If the key has passed on from the time the energy of attorney abuse has been discovered, the principal's estate or the intended beneficiaries of the home might be ready to sue the agent for breach of fiduciary duty, tortious interference with estate planning, or a number of other causes of action.

Because of the possibility of abuse with a power of attorney, their use should be limited. The instrument will be left by many persons creating a power of attorney with the drafting attorney until the conditions causing the activation of the power have been induced, such as for instance the inability of the key..

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