Can a Power of Attorney Withdraw Money After Death? Legal Authority

Can a Power of Attorney Withdraw Money After Death? Legal Authority

No, a power of attorney (POA) cannot legally withdraw money from the principal’s accounts after their death. All authority granted under a POA ends immediately upon the principal’s death, and any post-death transactions may result in legal consequences. Why a Power of Attorney Loses Authority After Death A POA is strictly a tool to enable…

Power of Attorney Abuse: How to Recognize, Prove, and Prevent Financial Exploitation

Power of Attorney Abuse: How to Recognize, Prove, and Prevent Financial Exploitation

Misuse of power of attorney (POA) occurs when an agent exploits their authority to harm the principal’s finances, property, or well-being—often through theft, fraud, or unauthorized decisions. POA abuse affects 1 in 10 older Americans annually, costing victims an average of $120,000 (AARP, 2023). Here’s how to spot, prevent, and address this silent epidemic. Defining…

How to Give Power of Attorney to Someone in Another State?

How to Give Power of Attorney to Someone in Another State?

Yes, you can grant power of attorney (POA) to an agent in another state—but cross-state POAs require careful planning to comply with varying legal requirements. Whether managing finances for an aging parent, handling a business, or preparing for emergencies, here’s how to ensure your POA holds up across state lines. Key Considerations for Cross-State POAs…

Can You Open a Bank Account for Someone with a Power of Attorney?

Can You Open a Bank Account for Someone with a Power of Attorney?

Yes—but success hinges on two critical factors: the POA document must explicitly authorize account creation, and the bank must accept its terms. Managing this process requires precision, legal awareness, and an understanding of financial institutions’ unique requirements. Let’s explore how to do this seamlessly while avoiding common pitfalls. POA A power of attorney (POA) empowers…

3 Surprising Limits of a Financial Power of Attorney: What Your Agent Can’t Decide

3 Surprising Limits of a Financial Power of Attorney: What Your Agent Can’t Decide

A Financial Power of Attorney (POA) can’t: Did You Know 70% of Financial POAs Have Dangerous Gaps? You’ve handed your Financial Power of Attorney to a trusted family member, confident they can manage your money if you’re ever incapacitated. But what happens when they try to pay your grandchild’s tuition, update your life insurance beneficiaries,…

3 Critical Limits of a Springing Power of Attorney? What Your Agent Can't Do

3 Critical Limits of a Springing Power of Attorney? What Your Agent Can’t Do

A Springing Power of Attorney (POA) cannot be used to (1) make healthcare decisions—these require a separate Medical POA, (2) alter your testamentary documents such as your will or trust, and (3) exercise post-death authority—actions that must remain exclusively your own. These limits ensure that even if your agent gains power upon your incapacity, your…

What Three Decisions Cannot Be Made by a Durable Power of Attorney?

What Three Decisions Cannot Be Made by a Durable Power of Attorney?

A Durable Power of Attorney (DPOA) cannot be used to (1) change or revoke your will or handle testamentary decisions, (2) exercise your voting rights, or (3) make personal decisions regarding marriage, divorce, or adoption. These decisions remain strictly your own and are protected by law to ensure your personal autonomy. Understanding Durable Power of…

What Three Decisions Cannot Be Made by a Medical (Healthcare) Power of Attorney? 

What Three Decisions Cannot Be Made by a Medical (Healthcare) Power of Attorney? 

A Medical (Healthcare) Power of Attorney (MHPOA) cannot (1) override your written advance directives, such as a living will; (2) make non-medical decisions, such as financial or legal affairs; and (3) alter your personal healthcare choices that are explicitly stated in your prior directives. These restrictions ensure that your most personal and critical healthcare decisions…