Legal Question in Credit and Debt Law in Pennsylvania
Fianancial Power of Attorney in PA
If I agree to be a finanacial power of attorney for my brother, am I legally responsible for any debt he has accrued prior to my signing the document?
Asked on 6/21/07, 3:08 pm
1 Answer from Attorneys
Roger Traversa
Arjont Group (Law Office of Roger Traversa)
Re: Fianancial Power of Attorney in PA
You asked if becoming a financial attorney in fact made you liable for prior debts.
This is a truly odd question. The question you asked raises many more substantial questions about the transaction you are contemplating. You should speak with an attorney before entering into any power of attorney agreement.
But to answer your question, generally, no, a power of attorney will not make a person personally liable for any prior debts of the grantor.
Regards,
Roger
Answered on 6/21/07, 3:35 pm
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