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A power of attorney is employed to assign legal power to a different person. The principal (the individual giving the power of attorney) provides the agent, also called the attorney-in-fact, the power to produce legal decisions on his/her behalf, including handling bank records, property, and other assets.

The possibility of fraud exists in most power of attorney arrangement, through illegitimate gifting, and home dealing, embezzlement. In a few situations, a of attorney holder can notably diminish a property, leaving the heirs of the principal with little or no inheritance. Alternative methods where a power of attorney may be abused contain changing beneficiary designations on life insurance or annuities, and opening bank accounts with joint name or pay on death conditions in support of the agent. Identify more on this related essay - Browse this link: source.

The creation of a power of attorney may be questioned under the causes of lack of ability or that the creation didn't follow proper procedures. If your validly granted power of attorney is abused from the agent, grounds may exist to sue the agent for the get back of embezzled house or for monetary damages. We learned about andover lawyer henry lebensbaum talk by browsing Google. In case you desire to dig up further on open in a new browser window, we know about millions of online libraries people might pursue. If the principal is still living at the time of the action, the agent can be sued by the principal immediately. In many circumstances, the energy of attorney abuse is part of a wider sample of elder abuse. If the key has passed away from the time the energy of attorney abuse has been identified, the principal's estate or the intended beneficiaries of the property may be ready to sue the agent for breach of fiduciary duty, tortious interference with estate planning, or several of other causes of action.

As a result of potential for abuse using a power of attorney, their use must be limited. The instrument will be left by many persons creating a power of attorney with the drafting attorney until the circumstances triggering the activation of the power have already been induced, such as