Ask Experts Questions for FREE Help !
Ask
    paris11's Avatar
    paris11 Posts: 1, Reputation: 1
    New Member
     
    #1

    Jan 7, 2009, 09:42 PM
    Estate planning
    My aunt recently made some bad judgements i recently had to close her bank account and open another little did i know it was in trust through the bank we went to her lawyer and he gave me power of attorney and then i found out her sister was her poa, the sister was wanting to know if her name was still on every thing and i would not tell her she has not filed no paperwork in court but all taxes were paid by me for the last 2 years. All the papers in her trust are notarized but have never been filed in court such as ducoment for tranferrering land deed and her sister wants the land that i have been paying taxes on.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
     
    #2

    Jan 7, 2009, 09:48 PM

    POA, a person can have a dozen of them if they want, they only have the right to sign for another person. But the person who gave them POA can take it away anytime they want ( unless they made it where it can not be revolked)
    So if there is an account under the aunts name, the other POA can just sign for the aunt and do business in that account also.

    And it appears you are also trustee on the trust account, what type of trust is it ?

    Also is the land in the trust ? If not is there a will, if it is in the will, the person named in the will gets the property.

    Also POA end at the death of the person, so once they die you or the other POA have no authority to sign for anything but it has to go to court

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search


Check out some similar questions!

Estate Planning [ 2 Answers ]

Enhanced Life Estate Deed. Has anyone on this site ever drafted such a document. If so, can you please post.

Estate Planning [ 2 Answers ]

Is there any downside to adding our children to our certificate of deposit, savings accounts or checking accounts. The accounts are held jointly by myself and my husband. If we should die together, can our children withdraw the money at their descretion without death taxes or any other charges or...

401 K Planning [ 2 Answers ]

Hi ; I am from India and have been residing in Us for a year now. I was not so sure about my investments last year and people suggested not to invest in 401 K if I am not planning to stay in US permanently. I didn't and found that for 2006 my taxes were really high and decided to invest in an...

Problems with Executor of Estate not signing sales contract for real estate [ 4 Answers ]

My sister and I are the beneficiaries of our mothers will. She died when I was 17 and left my sister and I half of her estate, and named her doctor as the executor. I am now 22 and my sister is 20 (21 next month). We all agreed (verbally) to sell the family house to our father for $125k. He...


View more questions Search