bank account levy

naomiargo · #1 Feb 15, 2008, 09:58 PM

I have a bank CD and I gave my brother a bank P O A to deposit and widraw for me. My brother has credit card problems. Will my CD be at risk of having a lein or levy?

Fastfun1 · Feb 16, 2008, 05:10 AM

Quote:

Originally Posted by naomiargo

I have a bank CD and I gave my brother a bank P O A to deposit and widraw for me. My brother has credit card problems. Will my CD be at risk of having a lein or levy?

Not too sure. If the bank ONLY has a POA on file for him, he is not an account owner and no recourse can be found in your accounts by the powwers that be. However, if what you really did was add him as a signer; making it a joint account, then you have problems.



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