Join code in the Power of Attorney

Aug 6th, 2022
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How to join code in the Power of Attorney

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hey there im paul Rabelais im an estate planning attorney and in this video im gonna talk all about power of attorney something just about everybody does hmm often misunderstood so Im gonna lay out really 10/10 critical points that affect people when they either are creating a power of attorney or theyve been appointed by someone else who created a power of attorney so Im Paul Rabelais estate planning attorney help our clients all around Louisiana get and keep their legal affairs in order so first let me go over what is a power of attorney so power attorney is something that just about everybody does when theyre getting all of their legal affairs in order but its a its an instrument or a legal document where you give someone else the authority to transact for you and then were gonna you know dig into some of the details here so I want to give you ten key points about power of attorney the first four are gonna be really more definitions but you need to know the definitions and

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The POA cannot transfer the responsibility to another Agent at any time. The POA cannot make any legal or financial decisions after the death of the Principal, at which point the Executor of the Estate would take over. The POA cannot distribute inheritances or transfer assets after the death of the Principal.
A Power of Attorney Could Leave You Vulnerable to Abuse Because of the potential that an agent could take advantage of you or steal from you, it is very important that you select the right person to act as your agent. Power of Attorney: What Are the Disadvantages? - Zimmer Law Firm zimmerlawfirm.com blog what-are-the-disadv zimmerlawfirm.com blog what-are-the-disadv
While you arent financial liable, as the attorney-in-fact, youre still the point of contact for the principals debts. Creditors have a right to attempt to collect the funds that are owed. They dont, however, have a right to harass you. Does Power of Attorney Make You Responsible for Someone Elses moneymanagement.org blog understand moneymanagement.org blog understand
Potential Disadvantages of Being a Power of Attorney If you bdocHub your duty, you could owe the principal compensation for damages. The principal could sue you if you did not act in their best interest. A POA could be held responsible if they sign an agreement that could hold them financially liable.
4126. (a) A principal may nominate, by a durable power of attorney, a conservator of the person or estate or both, or a guardian of the person or estate or both, for consideration by the court if protective proceedings for the principals person or estate are thereafter commenced. Chapter 2. Creation And Effect Of Powers Of Attorney :: California justia.com codes california prob justia.com codes california prob
Someone who has financial power of attorney to manage your property cannot legally transfer money to themselves or their own accounts from yours without written consent for a specific purpose.
Answer: When someone creates a power of attorney (POA) and names you as the agent (sometimes also called attorney-in-fact), you should not be held liable for that persons debts or other financial troubles unless those difficulties result from dishonest or grossly irresponsible acts on your part.

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