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My aunt made me her P.O.A. She also added me as a full owner

on all of her bank...
My aunt made me her P.O.A. She also added me as a full owner on all of her bank accounts.She is 85years old, has advanced Dementia and she doesn't have a will. How will this affect me.
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Answered in 5 minutes by:
9/7/2013
RayAnswers
RayAnswers, Attorney
Category: Estate Law
Satisfied Customers: 43,444
Experience: Texas lawyer for 30 years in Estate law
Verified

Thanks for your question and good afternoon.As long as the bank accounts here are joint ones with right of survivorship then these pass directly to you and no probate is necessary.As POA you may want to make sure she has no other assets that require probate either.If she has a car here the time to sell it or transfer title would be now.

Also you want to make sure that the accounts have the right of survivorship or are payable on death(POD). Again if you did that there would be no need for probate here.If she has other assets you can liquidate them and place funds into the accounts so that they pass directly to you upon her death.

It appears you have done all that will be necessary here to avoid probate for your aunt.A will may not be necessary if she doesn't have any other assets at time of death in her name.You have in effect done estate planning and eliminated the time and expense of court involved probate.

I appreciate the chance to assist you today.Please let me know if you have more follow up.Thanks again.

Ask Your Own Estate Law Question
Reference here to right of survivorship for Georgia bank accounts..

http://durdenmillspc.com/estatesblog/2012/03/11/survivorship-accounts-is-it-yours/

Thanks..
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