Power of Attorney Abuse - Buyer Beware
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| Description | A power of attorney can be used to assign legal power to some other person. The key (the individual giving the power of attorney) gives the agent, also referred to as the attorney-in-fact, the power to create legal conclusions on his/her behalf, including handling bank accounts, real estate, and other assets. The possibility of fraud exists in most power of attorney arrangement, through illegal gifting, and self working, embezzlement. In a few situations, an estate will be significantly depleted by a power attorney holder, making the heirs of the principal with little or no inheritance. Different ways when a power of attorney might be abused contain changing beneficiary designations on life insurance or annuities, and opening bank accounts with combined title or pay on death procedures in favor of the agent. The creation of the power of attorney can be challenged under the causes of insufficient capacity or the creation didn't follow proper procedures. To explore more, consider peeping at: consumers. If a validly granted power of attorney continues to be abused from the agent, reasons might exist to sue the agent for the reunite of embezzled property or for monetary damages. If the principal is still living at the time of the motion, the agent can be sued by the principal immediately. In many circumstances, the energy of attorney abuse is part of a larger sample of elder abuse. In the event the principal has passed away by the time the ability of attorney abuse has been discovered, the principal's estate or the intended beneficiaries of the property might be ready to sue the agent for breach of fiduciary duty, tortious interference with estate planning, or a number of other causes of action. To compare additional info, please peep at: bankruptcy attorney lancaster. Because of the potential for abuse with a power of attorney, their use should be limited. To discover additional info, please consider looking at: bankruptcy in los angeles. Many people developing a power of attorney may keep the instrument with the drafting attorney until the conditions initiating the activation of the power have been induced, such as for instance the inability of the principal..Westgate Law 15760 Ventura Blvd. Suite 880 Encino, CA 91436 800-891-1995 |
| Web site | http://www.avvo.com/attorneys/91436-ca-david-harelik-4530886.html |
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