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Richard
Richard, Attorney
Category: Estate Law
Satisfied Customers: 54564
Experience:  29 years of experience practicing law, including tax and estate planning.
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My sister in law told my husband that she was going to give

Customer Question

my sister in law told my husband that she was going to give him power of atty. We received a copy of the so called power of atty with her signature and a notary stamp My husband's name was no where on the document which makes no sense to me. Now she wants his social security number for a TOD? Does a Tod override a power of atty?
JA: Thanks. Can you give me any more details about your issue?
Customer: Not really She drew up the powerof atty a a few years ago and it only has her name on it with a notary signature It doesn't even appoint anyone for power of atty. This request for SS number is ***** the first time she has asked She asked me to send my husband SS to add it to an IRA for the TOD provision
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Submitted: 11 months ago.
Category: Estate Law
Expert:  Richard replied 11 months ago.
Good morning. My name is ***** ***** I look forward to helping you. The POA and TOD are really for different purposes. A POA gives someone authority to act on behalf of a principal during the principal's lifetime. A POA automatically terminates upon the principal's death. A TOD document or naming someone as beneficiary of an IRA takes effect upon the death of the principal. It results in the asset vesting in the named beneficiary upon the principal's death outside of probate and outside the principal's death.