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Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 33703
Experience:  15 yrs estate law, real estate. Wills/Trusts/Probate
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This is from a Durable General Power of Attorney document.

Customer Question

This is from a Durable General Power of Attorney document.
Notwithstanding the breadth of powers granted, Agent shall not have or exercise any of the following powers
Life insurance, any power or incident of ownership over any policy insuring an Agent's life.
Gifts" any power or authority over and irrevocable trust created by an agent. If Principal is a trustee or beneficiary of that trust: nor shall Agent have any power over any property an Agent may have donated to Principal.
Powers, any power or authority to appoint any of Principal any of the Principal's property to an Agent, to an Agent's estate, to an Agent's creditors or to the creditors of an Agent's estate, Agent shall have no power or authority to discharge any of the of of an Agent's legal obligations out of Principal's property, including any obligation of support which Agent may owe to others unless the Agent and Principal are equally obligated to render such support.
Submitted: 1 year ago.
Category: Estate Law
Expert:  Barrister replied 1 year ago.

Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can.

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I have read your comments, but don't actually see a legal question that I can help with....

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What is your legal question that I can help with tonight?

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thanks

Barrister

Customer: replied 1 year ago.
what exactly does that all mean?
Customer: replied 1 year ago.
I am the Agent my mother is the Principal
Customer: replied 1 year ago.
I know the last one means that we don't mix money, I don't use her money to pay my bills, unless we are both equally obligated.
Customer: replied 1 year ago.
Are you there?
Expert:  Barrister replied 1 year ago.

What it sound like to me is that this POA limits the powers that the Agent has over the principle's assets and can't do things like transfer them to themselves, change life insurance beneficiaries, or use the principle's assets to pledge as collateral to creditors for the Agent's debts.

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So basically it states that you can't use mother's money for your debts.

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thanks

Barrister

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