Power of Attorney Abuse - Buyer Beware
A power of attorney is employed to assign legal authority to some other person. This prodound bankruptcy attorneys los angeles article directory has some ideal aids for the meaning behind this enterprise. The main (the person granting the power of attorney) provides agent, also known as the attorney-in-fact, the authority to make legal choices on his/her behalf, including real estate, handling bank accounts, and other assets. Discover more on this related encyclopedia - Click here: la chapter 7 lawyer.
The potential for fraud exists in most power of attorney agreement, through unlawful gifting, and home working, embezzlement. In some circumstances, an estate will be significantly depleted by a power attorney holder, making the heirs of the key with minimum inheritance. Be taught more on our favorite partner website by clicking details. Other ways when a power of attorney might be abused contain changing beneficiary designations on life insurance or annuities, and opening bank accounts with combined name or pay on death conditions in favor of the agent.
The creation of a power of attorney can be questioned under the grounds of lack of capacity or that the creation didn't follow proper procedures. Clicking relevant webpage perhaps provides aids you can tell your brother. If a validly granted power of attorney has been abused from the agent, reasons might exist to sue the agent for the reunite of embezzled home or for monetary damages. If the principal remains living at the time of the motion, the principal can sue the agent directly. In several situations, the ability of attorney abuse is part of a broader pattern of elder abuse. In the event the key has passed away by the time the power of attorney abuse has been identified, the principal's estate or the intended recipients of the property may be able to sue the agent for breach of fiduciary duty, tortious interference with estate planning, or several of other causes of action.
Due to the possibility of abuse using a power of attorney, their use should be limited. The instrument will be left by many persons creating a power of attorney with the drafting attorney until the conditions triggering the activation of the power have been induced, including the incapacity of the principal..Westgate Law
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