Improper use of power of attorney
If you used the Power of Attorney to cash out cd's/bank accounts that were in the clients name with others heirs with surviorship, and you transfered the funds to another state,and put the funds into an account you opened and put your name on the account. What if any laws were broken, and could this be considered by Federal Laws.
1 Answer from Attorneys
Re: Improper use of power of attorney
It is going to very much depend on exactly what the Power of Attorney says -- what powers were granted to the agent. POA's are strictly construed such that if a power is not specifically granted, it is generally not allowed. Additionally, as a general rule, the agent is a fiduciary that is required to act in the principal's best interests. Powers of Attorney are normally governed by state statute. Illinois has a statute that provided specific rules and remedies for agents. You should contact an attorney in the appropriate jurisdiction for legal advice on your situation.
Related Questions & Answers
-
Legal gardian of my sister will not give information my nephew has legal gardian... Asked 9/30/06, 6:02 pm in United States Illinois Elder Law
-
Power of Attorney question my husband's uncle is temporarily incapacitated due to... Asked 9/28/06, 6:12 pm in United States Illinois Elder Law
-
Power of Attorney for Elderly Parent My mother suffers from bi-polar depression.... Asked 9/25/06, 11:53 am in United States Illinois Elder Law
-
Power of Attorney How do I get a Power of Attorney assigned for my grandmother who... Asked 8/11/06, 5:04 pm in United States Illinois Elder Law
-
Elderly Family Issues All parties involved are their own decision makers and adults.... Asked 10/02/05, 12:18 am in United States Illinois Elder Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
