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A power of attorney is used to assign legal power to some other person. For one more interpretation, we know people view at: dui lawyer in los angeles. The key (the person granting the power of attorney) provides agent, also known as the attorney-in-fact, the power to produce legal decisions on his/her behalf, including handling bank records, property, and other assets.

The potential for fraud exists in every power of attorney design, through illegal gifting, and self working, embezzlement. In a few circumstances, an estate will be significantly depleted by a power attorney holder, leaving the heirs of the key with little or no inheritance. To get another perspective, consider checking out: click here. Alternative methods where a power of attorney might be abused include changing beneficiary designations on life insurance or annuities, and opening bank accounts with joint title or pay on death procedures in support of the agent.

The creation of the power of attorney can be pushed under the grounds of lack of capacity or the creation did not follow proper formalities. If a validly granted power of attorney is abused from the agent, grounds may possibly exist to sue the agent for the get back of embezzled home or for monetary damages. The principal can sue the agent immediately, if the principal continues to be living at the time of the motion. In many situations, the power of attorney abuse is part of a larger sample of elder abuse. In the event the principal has passed away by the time the power of attorney abuse has been found, the principal"s estate or the intended beneficiaries of the home could be ready to sue the agent for breach of fiduciary duty, tortious interference with estate planning, or several of other causes of action.

Due to the potential for abuse with a power of attorney, their use should be limited. The instrument will be left by many persons creating a power of attorney with the drafting attorney until the circumstances triggering the activation of the power have been triggered, such as for example the inability of the principal..Law Offices of Avi Zvulun
16000 Ventura Blvd
Ste 1208
Encino, CA 91436
(818) 720-5288

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