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Damien Bosco
Damien Bosco, Attorney
Category: Estate Law
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In New Jersey, my mother made two durable POA delegations on

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In New Jersey, my mother made two durable POA delegations on separate documents, one to her nephew David Hochheiser dated in 2011 and one to Aaron Sapiro dated in 2012, her ex husband.
Her bank accounts and 401k currently indicate Aaron Sapiro as POA.
She has late stage dementia, and has been recognized as incompetent by State of NJ. She can no longer authorize changes to the POA documents.
Aaron wishes to resign as POA, however there are no successors listed on the document assigning him POA.
The question is, can we have Aaron formally resign and reinstate David as POA for her finances?
If this is doable, what do we have to prepare to show the banks proper authorization?
Submitted: 1 year ago.
Category: Estate Law
Expert:  Damien Bosco replied 1 year ago.
Hello and Welcome! My name is***** am a licensed attorney. I have assisted hundreds of others with their legal questions. I am happy to help you!
Both POAs are valid (my understanding is that you are saying there are two separate POAs). I supposed you are saying that the bank and 401k will not honor DH's POA. You cannot have Aaron resign and appoint David since there is no listed successors. Without the need for a guardianship proceeding, you should see if the bank would accept David's POA. Otherwise, someone would have to be appointed a guardian.

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