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Richard
Richard, Attorney
Category: Estate Law
Satisfied Customers: 53951
Experience:  29 years of experience practicing law, including tax and estate planning.
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My father has a farm in puerto rico. he is diagnoised with

Customer Question

my father has a farm in puerto rico. he is diagnoised with alzheimers. my son has power of attorney, i want to know if he can put this farm in his name or does puerto rico go by the next of kin law?
Submitted: 1 year ago.
Category: Estate Law
Expert:  Richard replied 1 year ago.

Hi there. Being named your POA does not give your son the right to treat your father's assets as your son's personal piggy bank. A person acting under a Durable Power of Attorney becomes the agent of the principal who appointed him or her. As agent, that person is what the law calls a “fiduciary.” This means that person has a duty to act in the highest good faith for the principal’s benefit. It does not mean that the person can simply use the assets of the principal for the agent's own benefit. If your son simply moved your father's assets to his own name, he would be violating this fiduciary duty. The farm should be inherited pursuant to your father's will; and, if there is no will, it would pass pursuant to the Puerto Rico intestate succession laws.

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