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Infolawyer
Infolawyer, Attorney
Category: Estate Law
Satisfied Customers: 50029
Experience:  Licensed attorney helping individuals and businesses.
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Does the power of attorney have the right to disperse funds

Resolved Question:

Does the power of attorney have the right to disperse funds in ways other than those stipulated in the principle's will proir to the principle's death? ie If grand children are not included in the will, can the power of attorney gift them large sums of money prior to the princple's death and before the will comes into play?
Submitted: 11 months ago.
Category: Estate Law
Expert:  Infolawyer replied 11 months ago.

INFOLAWYER :

Hello and thank you for the question. I am sorry to read of this dilemma.

INFOLAWYER :

The will has no effect on the power of attorney

INFOLAWYER :

until the person passes, the POA can act within discretion and per terms of the poa instrument

INFOLAWYER :

for best interest of the person

INFOLAWYER :

once person passes, the poa terminates

INFOLAWYER :

and then the executor carries out the terms of the will

INFOLAWYER :

Poa should not be gifting assets

INFOLAWYER :

not allowed

INFOLAWYER :

and breach of fiduciary duty

INFOLAWYER :

Let me know if the answer is clear.

Customer:

Can you please further explain "POA should not be gifting assets not allowed and breach fiduciary duty?"

INFOLAWYER :

Poa has to maintain the assets

INFOLAWYER :

he or she may not move assets unless the poa document expressly gives one that power

INFOLAWYER :

Gifting, transferring of assets is typically not allowed, not in the power of attorney authorization and not in his best interest

INFOLAWYER :

fiduciary duty refers to a duty to act in his best interest and the relationship of trust

INFOLAWYER :

Is that now clear?

Customer:

Somewhat clearer. Do I have the right to ask the POA for a copy of those forms and does the POA have to comply?

INFOLAWYER :

Yes

INFOLAWYER :

it should be provided

INFOLAWYER :

if not provided on demand, a lawyer may do so

INFOLAWYER :

and a court may be asked to compel it

INFOLAWYER :

and require the poa to account.

INFOLAWYER :

I wish you the best

Customer:

You have been very helpful. My concern is that Mom is not being treated with dignity and respect and her wishes not honored.

INFOLAWYER :

If I can clarify anything, please ask me

INFOLAWYER :

I understand

INFOLAWYER :

and having a lawyer locally intervene

INFOLAWYER :

meet with the poa

INFOLAWYER :

often helps resolve these concerns

INFOLAWYER :

and gets the poa acting more professionally and transperently

INFOLAWYER :

wishing you a very nice weekend. Kindly click on an excellent rating for the answer.

Infolawyer, Attorney
Category: Estate Law
Satisfied Customers: 50029
Experience: Licensed attorney helping individuals and businesses.
Infolawyer and 6 other Estate Law Specialists are ready to help you

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