Power of Attorney Abuse - Buyer Beware

A power of attorney can be used to assign legal authority to a different person. To learn more, please consider looking at: accident attorney pompano beach. The principal (the individual granting the power of attorney) gives the agent, also called the attorney-in-fact, the authority to make legal conclusions on his/her behalf, including real estate, handling bank records, and other assets. The prospect of fraud exists in every power of attorney agreement, through self working, embezzlement, and unlawful gifting. In some circumstances, an estate will be significantly depleted by a power attorney holder, making the heirs of the main with little or no inheritance. Different ways in which a power of attorney could be abused include changing beneficiary designations on life insurance or annuities, and opening bank accounts with combined name or pay on death procedures in support of the agent. The creation of a power of attorney can be pushed under the causes of lack of ability or the creation didn't follow proper procedures. Should you require to learn further about find out more, there are many databases you should investigate. If your validly given power of attorney continues to be abused from the agent, grounds might exist to sue the agent for the return of embezzled home or for monetary damages. If the principal remains living at the time of the action, the principal can sue the agent directly. In several circumstances, the power of attorney abuse is part of a broader sample of elder abuse. In the event the key has passed on from the time the energy of attorney abuse has been discovered, the principal's estate or the intended recipients of the property might be able to sue the agent for breach of fiduciary duty, tortious interference with estate planning, or several of other causes of action. Due to the possibility of abuse with a power of attorney, their use should be limited. Be taught further on the affiliated article directory by visiting An introduction to Auto Insurances Romy Beard. Dig up extra info about Ideas On Shipping Your Motorcycle King of market making by visiting our poetic wiki. 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 already been triggered, including the incapacity of the principal.Glick & Grife 2255 Glades Rd. Ste. 324A Boca Raton FL 33431

Power of Attorney Abuse - Buyer Beware