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    dabodu's Avatar
    dabodu Posts: 1, Reputation: 1
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    #1

    Apr 16, 2007, 12:40 PM
    Power of Attorney
    My brother and I have been assigned power of attorney for both parents. I am afraid that my brother will go to the bank and put all of my parents assests in an account with his name only. Can he legally do this?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Apr 16, 2007, 04:32 PM
    Yes, with POA he can sign for your parents on anything.

    So he can basically sale their house, take all of their money from the bank and take out a loan in their name.

    Read some of the posts here and you will see it is done every day.
    grandhaiku's Avatar
    grandhaiku Posts: 21, Reputation: 2
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    #3

    Apr 17, 2007, 01:07 AM
    Quote Originally Posted by dabodu
    My brother and I have been assigned power of attorney for both parents. I am afraid that my brother will go to the bank and put all of my parents assests in an account with his name only. Can he legally do this?
    I have a question: Is this a joint POA where you both need to sign or individual where either one of you can sign separately?
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