A power of attorney is used to delegate legal power to another person. The key (anyone giving the power of attorney) provides agent, also referred to as the attorney-in-fact, the power to make legal choices on his/her behalf, including handling bank records, real estate, and other assets.

The possibility of fraud exists in most power of attorney arrangement, through illegal gifting, and self dealing, embezzlement. In some situations, a of attorney holder may dramatically strain a property, making the heirs of the key with little if any inheritance. Going To The Gordon Law, P.C. - Brooklyn Estate Planning and Elder Law Attorney Division Is Now Serving Clients In The Kings County Area certainly provides warnings you can give to your brother. Different ways where a power of attorney can be abused include changing beneficiary designations on life insurance or annuities, and opening bank accounts with joint title or pay on death provisions in favor of the agent.

The creation of a power of attorney can be pushed under the causes of lack of ability or that the creation did not follow proper formalities. Reasons may possibly exist to sue the agent for the return of embezzled house or for monetary damages, If your validly given power of attorney is abused from the agent. If the principal is still living at the time of the motion, the agent can be sued by the principal directly. In many circumstances, the ability of attorney abuse is part of a broader pattern of elder abuse. If the key has passed away by the time the ability of attorney abuse has been found, the principal's estate or the intended recipients of the house may be able to sue the agent for breach of fiduciary duty, tortious interference with estate planning, or lots of other causes of action.

Due to the potential for abuse with a power of attorney, their use should be limited. Get more on this affiliated article directory by clicking The Gordon Law, P.C. - Brooklyn Estate Planning and Elder Law Attorney Division Is Now Serving Clients In The Kings County Area. Many persons developing a power of attorney will keep the instrument with the drafting attorney until the conditions causing the activation of the power have been induced, such as for instance the incapacity of the key.. Identify further about The Gordon Law, P.C. - Brooklyn Estate Planning and Elder Law Attorney Division Is Now Serving Clients In The Kings County Area by browsing our powerful use with.

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