Can a son withdraw money out of his deceased father's bank account if he was power of attorney and his name was on the account?

SecretSister

Mar 15, 2010

It is interesting to know that POA ends at death. What happens if the individual has not assigned anyone as executor? Can the POA do that if the individual is mentally incapacitated?

marhaba

Mar 17, 2010

In general, a power of attorney gives you the authority to act in place of the person for those matters delineated in the POA. Upon the person's death, she can no longer act, so neither can the holder of the POA. If no executor is named, an administrator for the estate will be appointed by the probate court. Generally someone who has joint ownership of a bank account has certain rights of survivorship, but that is governed by the type of account and the applicable state law.

2old2giveacrap

Mar 17, 2010

I was told that the POA is no good after death, but if your name is on the bank account then you can do anything you want with it, but if they owe people money, then those depts have to be paid out of that. That is just what I have been told.

PirateGal

Mar 17, 2010

Glad my mom did the smart thing eons ago and had me on all as joint...saves me mucho headaches later.

pamela6148

Mar 17, 2010

Can the POA appoint themselves executor of a Living Trust if no one is designated? Carol?

marhaba

Mar 18, 2010

The answer to this question depends on many factors. In general, trusts are run by trustees, who are designated at the time the trust is set up. At a minimum, you need to consult the state law governing the trust, and the trust documents themselves. Get the help of an attorney specializing in this area of the law. Perhaps you could start with the one who drafted the trust.

cherma6

Jun 19, 2010

I am the only one on my grandparents will, but just recently their niece has been named as power of attorney over them because she will be moving them out of state to help care for them. I am also on my grandparents checking account and they want her added as well. When they are deceased I understand her power of attorney is done, but how will it work with her name being on their checking account? She is NOT in the will, but only on the checking account. Thanks!

sophyahernand2

Jun 30, 2010

I am the personal representative of my grandmothers account. I am in Florida and she died here a year ago. Now some money has come into her personal account which was already transfered to the Estate account I open. My question is, can I go ahead and withdrawal the money I have spent so far while opening the estate account and on the funeral? Can I do this before paying the creditors? I used my own money for all those expenses. Thanks for the help. Sophya