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Q about power of attorneyFollow
OK guys, I know I can deoend on my Fellow Alla brothers, so here goes. I have this friend who found out his GF signed over power of attorney (spelling) to some guy. What are the complete benefits this guy would get from that? I know he would have say over financial stuff, but would this give him accsess to bank acounts and the such? and its not me, its not some lame way of finding out my GF is doing this to me. he asked me about it today so thought I would ask here... (thinks is this really the place to ask a Q like this...)..
She signed it over to "some guy?" Something tells me there's procedures in place that would prevent that.
Anyway, I found this:
http://www.oag.state.ny.us/seniors/pwrat.html
Quote:
What kinds of legal authority can be granted with a Power of Attorney?
Whether "Nondurable," "Durable," or "Springing," a Power of Attorney can be used to grant any, or all, of the following legal powers to an Agent:
Buy or sell your real estate
Manage your property
Conduct your banking transactions
Invest, or not invest, your money
Make legal claims and conduct litigation
Attend to tax and retirement matters
Make gifts on your behalf
Whether "Nondurable," "Durable," or "Springing," a Power of Attorney can be used to grant any, or all, of the following legal powers to an Agent:
Buy or sell your real estate
Manage your property
Conduct your banking transactions
Invest, or not invest, your money
Make legal claims and conduct litigation
Attend to tax and retirement matters
Make gifts on your behalf
And another link:
http://www.uslegalforms.com/poweratty.htm
Quote:
1) What is a General Power of Attorney?
A General Power of Attorney is a legal document which gives the person you choose (the agent) the power to manage your assets and financial affairs while you are alive.
A General Power of Attorney is a legal document which gives the person you choose (the agent) the power to manage your assets and financial affairs while you are alive.
Quote:
5) Can a Power of Attorney be revoked?
A Power of Attorney can be revoked by the principal at any time, as long as he or she is competent.
A Power of Attorney can be revoked by the principal at any time, as long as he or she is competent.
Apparently it was notorized, he found paper work on it a couple weeks ago
Edited, Sat May 29 16:22:32 2004 by Kouranx
Edited, Sat May 29 16:22:32 2004 by Kouranx
Ok Thanks Tricky. Thats mostly what we had assumed...
Sounds to me like your friend needs a new girlfriend...
Apparently it was notorized, he found paper work on it a couple weeks ago.
Something can't be notorized with you as a signatory unless you are PRESENT at the time and speak to the notary who verifies your identity and understanding of the document that you are signing.
If that didn't happen call the attorney general with the number of the notary seal and let them know. Notarizing something without their knowledge is unethical and ussually a felony.
Something can't be notorized with you as a signatory unless you are PRESENT at the time and speak to the notary who verifies your identity and understanding of the document that you are signing.
If that didn't happen call the attorney general with the number of the notary seal and let them know. Notarizing something without their knowledge is unethical and ussually a felony.
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To make a long story short, I don't take any responsibility for anything I post here. It's not news, it's not truth, it's not serious. It's parody. It's satire. It's bitter. It's angsty. Your mother's a *****. You like to jack off dogs. That's right, you heard me. You like to grab that dog by the bone and rub it like a ski pole. Your dad? Gay. Your priest? Straight. **** off and let me post. It's not true, it's all in good fun. Now go away.
The big question here is, was it:
A. A cult.
B. some wierd nymphomaniac prostitute ring
C. She is an idiot.
A. A cult.
B. some wierd nymphomaniac prostitute ring
C. She is an idiot.
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There are different forms of Power of Attorney, but a full one grants the person full access to anything financial. Hell, anything at all.
Usually it's done because 1) A spouse is overseas (e.g. serving in the military) 2) The grantor has been found mentally incompetent or 3) Limited forms can be granted during a divorce (to handle the division of household things, automobile, etc.)
That's just ... weird ... that he has PoA for her and he's "just finding the paperwork"? As Smash said, it's an active process. Both parties have to be present. It's not as if suddenly he woke up and found paperwork for someone, and has been granted access to her bank and whatnot.
* boggle *
Usually it's done because 1) A spouse is overseas (e.g. serving in the military) 2) The grantor has been found mentally incompetent or 3) Limited forms can be granted during a divorce (to handle the division of household things, automobile, etc.)
That's just ... weird ... that he has PoA for her and he's "just finding the paperwork"? As Smash said, it's an active process. Both parties have to be present. It's not as if suddenly he woke up and found paperwork for someone, and has been granted access to her bank and whatnot.
* boggle *
I would hope that "some guy" is a family member or very trusted friend.
Which powers are granted would depend on how the GF executed the POA form. On the Minnesota standard short form POA, there's a checklist of exactly which powers are granted. The attorney-in-fact (person to whom power was granted) would have only those powers checked on the list. It's a very standard form, compared to other states.
POA forms usually also have an ending date. The person granting Power of Attorney can revoke the POA at any time. Actually I think either party can revoke it, if I remember correctly.
They're often done to complete one specific transaction. If that's what the GF is doing, it's very important that she revoke the POA as soon as that transaction is completed (if no end date is specified on the form).
Which powers are granted would depend on how the GF executed the POA form. On the Minnesota standard short form POA, there's a checklist of exactly which powers are granted. The attorney-in-fact (person to whom power was granted) would have only those powers checked on the list. It's a very standard form, compared to other states.
POA forms usually also have an ending date. The person granting Power of Attorney can revoke the POA at any time. Actually I think either party can revoke it, if I remember correctly.
They're often done to complete one specific transaction. If that's what the GF is doing, it's very important that she revoke the POA as soon as that transaction is completed (if no end date is specified on the form).
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