the gordon lawA power of attorney is employed to delegate legal authority to another person. The principal (the person granting the power of attorney) provides agent, also known as the attorney-in-fact, the power to produce legal conclusions on his/her behalf, including property, handling bank accounts, and other assets.

The potential for fraud exists in every power of attorney agreement, through home working, embezzlement, and unlawful gifting. In a few situations, a of attorney holder may dramatically deplete a property, leaving the heirs of the principal with minimum inheritance. Alternative methods when a power of attorney can be abused contain changing beneficiary designations on life insurance or annuities, and opening bank accounts with joint title or pay on death terms in support of the agent. Visiting maybe provides tips you can give to your pastor. Http://Theupstocker.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/ is a staggering online database for more concerning the inner workings of this hypothesis. To research additional information, people may check-out:

The creation of the power of attorney might be challenged under the grounds of lack of capacity or the creation did not follow proper formalities. Reasons may exist to sue the agent for the get back of embezzled house or for monetary damages, In case a validly granted power of attorney is abused from the agent. The principal can sue the agent directly, if the principal is still living at the time of the motion. In many situations, the ability of attorney abuse is part of a wider sample of elder abuse. In the event the principal has passed on from the time the ability of attorney punishment has been discovered, the principal's estate or the intended beneficiaries of the house might be ready 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 using a power of attorney, their use should be limited. The instrument will be left by many persons creating a power of attorney with the drafting attorney until the circumstances causing the activation of the power have already been triggered, such as the inability of the key.. If you wish to identify 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 many online libraries you might investigate.