A power of attorney can be used to assign legal power to some other person. Discover more on the affiliated use with - Browse this webpage: http://dailyworldweb.com/news/the-gordon-law-p-c-white-plains-estate-planning-and-elder-law-attorney-division-is-now-serving-clients-in-the-westchester-county-area/0157319/. The principal (anyone granting the power of attorney) provides agent, also known as the attorney-in-fact, the authority to create legal choices on his/her behalf, including handling bank accounts, property, and other assets.

The possibility of fraud exists in every power of attorney agreement, through unlawful gifting, and home working, embezzlement. In case you desire to discover more about http://investor.wallstreetselect.com/wss/news/read/38317067, we recommend heaps of on-line databases people could pursue. My co-worker discovered http://www.1007thescore.com/Global/story.asp?S=40533416 by browsing Yahoo. In certain circumstances, an estate will be significantly depleted by a power attorney holder, making the heirs of the key with little if any inheritance. Different ways in which a power of attorney can be abused include changing beneficiary designations on life insurance or annuities, and opening bank accounts with combined title or pay on death procedures in favor of the agent.

The creation of a power of attorney can be questioned under the causes of lack of capacity or that the creation did not follow proper formalities. Reasons may exist to sue the agent for the return of embezzled house or for monetary damages, If a validly given power of attorney is abused by the agent. If the principal continues to be living at the time of the action, the agent can be sued by the principal immediately. In several circumstances, the power of attorney abuse is part of a wider pattern of elder abuse. In the event the key has passed away by the time the power of attorney abuse has been found, the principal's estate or the intended beneficiaries of the property may be able to sue the agent for breach of fiduciary duty, tortious interference with estate planning, or a number of other causes of action.

Because of the potential for abuse with a power of attorney, their use must be limited. Many individuals creating a power of attorney will keep the device with the drafting attorney until the conditions initiating the activation of the power have already been induced, such as the incapacity of the primary.. In the event people claim to get further about The Gordon Law, P.C. - White Plains Estate Planning and Elder Law Attorney Division Is Now Serving Clients In The Westchester County Area, there are heaps of resources you can investigate.