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FiveStarLaw
FiveStarLaw, Attorney
Category: Estate Law
Satisfied Customers: 36579
Experience:  25 years of experience helping people like you.
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Does a power of attorney have the authority to spend money

Resolved Question:

Does a power of attorney have the authority to spend money from a trust for anything that they desire?
Submitted: 2 years ago.
Category: Estate Law
Expert:  FiveStarLaw replied 2 years ago.

WebLaw :

*Due to rules of your state bar or mine, nothing herein is intended as legal advice, only intended as general information to better help yourself.*

WebLaw :

Welcome to JustAnswer,

Thank you for your question. If my answer is not clear to you or does not fully answer your question, please ask me for clarification by using the reply button.

WebLaw :

Is the person the trustee of the trust?

Customer:

That is fine. My wife's aunt has a power of attorney that is spending money from a family trust account without consulting anyone including my wife's aunt. Is that allowed by law. The power of attorney has refused to include any other family member in any decisions regarding expenditures.

WebLaw :

I am not clear how a power of attorney is able to access a trust. Is your wife's aunt the trustee?

Customer:

yes until her death. Upon her death my wife and another nephew become the truustees of the Trust and the will oher her aunt and uncle. Her uncle died about 8 years ago.

WebLaw :

This is still not clear to me. Your wife's aunt was trustee of the trust and power of attorney or are you saying that a person acted on your wife's aunt's behalf in accessing the trust using a power of attorney

Customer:

Yes the person who is the power of attorney (not her aunt) is accessing the account.

WebLaw :

A power of attorney does not have a statutory authority to act as a successor trustee. Therefore unless a court or the trust itself specifically gives the person the power, the POA has been accessing the account illegally

Customer:

This person also obtained the power of attorney without consulting any other family member prior to executing the power of attorney.

WebLaw :

The person does not require family permission to obtain a power of attorney. That said, a power of attorney would typically not have the authority to act on behalf of the trustee

WebLaw :


I think this is what you wanted to know. Please use the REPLY button if you have any questions concerning my answer. Otherwise please click ACCEPT so that I am paid by the site for answering.

FiveStarLaw, Attorney
Category: Estate Law
Satisfied Customers: 36579
Experience: 25 years of experience helping people like you.
FiveStarLaw and other Estate Law Specialists are ready to help you

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