you will be held accountable when you have power of attorney

A definitive and short answer is no. as power of attorney you are responsible for his bills with his funds unless you caused the bills. Report Abuse Ask a Lawyer

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Can a person be personally liable for a power of attorney?

May 16, 2010 · The answer is, "It depends on the POA." But, assuming that the POA is a general power of attorney covering all financial matters, there is nothing you can do to hold him accountable. If there are limitations stated in the POA and he oversteps the authority of the POA, you could file a civil action against him dealing with the specific violations.

Are You responsible if you sign a power of attorney form?

Jul 12, 2013 · 3 attorney answers. Posted on Jul 12, 2013. Not only are they accountable to the principal they are accountable to the principal's Guardian, if any; the personal representative of the principal's estate upon the principals death; plus any prospective heir can ask the Court to require an accounting if they can show the principal is incapacitated and there is doubt or concern …

What can you do with a power of attorney?

Nov 04, 2019 · There are some conditions under which you can be held liable, but these only occur under specific circumstances: Signing an additional agreement to be personally liable for financial or legal agreements. Relationship liability (next …

Can an agent of a power of attorney cause legal and financial chaos?

As “agent” you can enter into business transactions as defined by the general or limited power of attorney. Usually that means you can buy and sell real estate, take on mortgages, sign contracts and obligate the “grantor” in many other ways. If the “grantor” doesn’t complete her side of the bargain, she will be held responsible, not you.

What are the liabilities of being a power of attorney?

When it comes to debt, an agent acting under power of attorney is not liable for any debts the principal accrued before being given authority or/and any obligations outside their scope of authority.May 7, 2021

What are the disadvantages of being power of attorney?

One major downfall of a POA is the agent may act in ways or do things that the principal had not intended. There is no direct oversight of the agent's activities by anyone other than you, the principal. This can lend a hand to situations such as elder financial abuse and/or fraud.

What three decisions Cannot be made by a legal power of attorney?

You cannot give an attorney the power to: act in a way or make a decision that you cannot normally do yourself – for example, anything outside the law. consent to a deprivation of liberty being imposed on you, without a court order.

Can a family member override a power of attorney?

The Principal can override either type of POA whenever they want. However, other relatives may be concerned that the Agent (in most cases a close family member like a parent, child, sibling, or spouse) is abusing their rights and responsibilities by neglecting or exploiting their loved one.Nov 3, 2019

Legal Capacity of An Attorney-In-Fact

• Attorneys-in-fact act in their capacity under a power of attorneyonly as agents or representatives of the principal. They do not act for their own benefit under a power of attorney or make decisions that involve their own assets and finances. For example, if the attorney-in-fact for an elderly principal suffering from dementia makes monthly mortgage payments for the principal's house f…

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Breach of Fiduciary Duty

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