Legal Question in Wills and Trusts in New Jersey
My cousin is 85. she signed a power of attorney (POA) years ago for my dad to be POA. However in signing the document, instead of writing "A-P" she wrote, "A- ". my dad contactd the original lawyer who witnessed this POA and wrote a letter to go with the POA stating that it was an oversight on the lawyer's behalf. she also said that my dad should just insert the P. some of the banks where my dad has tried to use the POA have been accomodating and they had no trouble exercing the POA. however there is one bank that would not accept the "A- ". my cousin is very ill and in the hospital. the lawyer and my dad went to see her in the hospital to generate a new POA. since she was so ill and could not sign the document, she was witnessed in front of the lawyer and other people nodding that she understood what the POA was and that she agreed to it. the lawyer generate the new POA documenting what took place. my dad brought this new POA into the bank and they still will not accept it. they said no court would enforce this. however on that same day, my dad brought this document to said bank, he also brought it to another bank who accepted the document. my question is, is it at the descretion of each bank whether to accept the document, is it legal, what can my dad do about this?
2 Answers from Attorneys
Each bank can have their own rules on what they require. If this bank has a problem with the way the POA was prepared, or has questions about whether it is valid, they don't have to recognize it.
Your options are to try and have the attorney who drafted the POA contact the bank's legal dept and explain the circumstances to convince them to back off, or in the alternative, go to court to have a judge requre that the bank recognize the POA.
Bring 20 Pa.C.S.A. � 5603 to the attention of the bank. It requires banks to accept validly executed POAs. It is valid for a person who cannot physically sign a document to ask someone else to sign on their behalf, and witnesses should attest to that fact. So long as that procedure has been followed and the document properly acknowledged to a notary, it should be valid. Hopefully, the attorney who drafted the POA followed procedures to ensure acceptance of the POA by banks.
If the bank still resists, require them to consult their legal department immediately, or that you will hold them liable for their failure to honor the POA.
This response is not legal advice, since I do not have all of the information that would be required, and I do not have a representation agreement with you.
* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.
* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern.
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