Legal Question in Wills and Trusts in Arizona
Power of Attorney
What kind of power of attorney is it that will allow one person to be able to withdraw funds and pay bills when another person, ie Father, is deceased?
5 Answers from Attorneys
Power of attorney usually stops at death
A durable power of attorney will allow a person to exercise the power after the deathof the principal if the agent is not aware the principal has died. Once the agent haslearned of the death of the principal, the power of attorney is void.
Power of Attorney
A power of attorney usually expires when a person dies. In order for a person to access an account of a deceased person a formal probabte of the estate has to be commenced and a personal representative appointed by the court to wind up the deceased persons affairs, pay the bills of the estate and distribute the assets to the heirs either under a will or the intestate statuates of the state. The only way around a court procedure would be if a trust was created before the death of person. The trustee of the trust would have the power to access the accounts after the death of the trustor. If there is no trust the estate must go through probate. Any heir can request probate by submitting a petition to the court. There are many details envolved in a probate. It is wise to hire a good attorney to handle it. The cost varies and the attorney's fee and other costs of probate are usually paid out of the assets of the estate. If the estate is small, in some states there is a modified probate which does not involve all of the requirements of a larger estate. You do need to consult a probate lawyer in your state if the person is already deceased. Otherwise have the person make a will or an intervivos trust. Hope this helps.
POA after death
None. Power of Attorney ends at death. Try a will or a joint bank account with right of survivorship.
No Power of Attorney Will Work
No Power of Attorney will permit activity after the death of the principal (the person granting the power). This is because Powers of Attorney are invalid after the principal's death as a matter of law in all states. After death, bills are paid from the deceased person's estate by the Executor or Personal Representative.
Power of attorney will not work
Powers of attorney are valid only while the principal (person giving the power) is alive. AND, the power of attorney must be "durable" to be valid if the principal becomes incompetent. After death, probate laws will apply--an executor may need to be appointed. If a trust is in place, the successor trustee can do the tasks you describe.
You or your father should speak with an estate planning attorney to ensure a smooth and timely transition of the estate.