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A Wiki Article Power of Attorney Abuse Buyer Beware
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A power of attorney is used to assign legal power to some other person. The key (anyone granting the power of attorney) provides agent, also known as the attorney-in-fact, the authority to create appropriate 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 self working, embezzlement, and illegal gifting. In some circumstances, an estate will be significantly depleted by a power attorney holder, leaving the heirs of the key with little if any inheritance. Alternative methods in which a power of attorney may be abused contain changing beneficiary designations on life insurance or annuities, and opening bank accounts with combined title or pay on death terms in support of the agent. The creation of the power of attorney may be pushed under the causes of insufficient capacity or that the creation didn't follow proper procedures. If your validly granted power of attorney has been abused from the agent, grounds may exist to sue the agent for the return of embezzled home or for monetary damages. The agent can be sued by the principal immediately, if the principal remains living at the time of the action. In several circumstances, the power of attorney abuse is part of a larger pattern of elder abuse. If the principal has passed away from the time the ability of attorney abuse has been found, the principal's estate or the intended recipients of the property may be ready to sue the agent for breach of fiduciary duty, tortious interference with estate planning, or a number of other causes of action. Due to the potential for abuse using a power of attorney, their use should be limited. Discover new resources on [http://www.beahmlaw.com/san-francisco/ san francisco dui attorney reviews] by visiting our forceful wiki. The instrument will be left by many persons creating a power of attorney with the drafting attorney until the circumstances initiating the activation of the power have been induced, such as for example the inability of the primary.Beahm Law 28 2nd St #300 San Francisco, CA 94105 (415) 419-8198
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A Wiki Article Power of Attorney Abuse Buyer Beware
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