The POA does not gain any ownership rights to the principal's property. Depending on how the POA agreement is written, they POA may have a lot of "rights" either immediately after the signing or after it is "activated" when the principal is deemed incompetent. Usually the POA gains near total control over the principal's property after the principal is deemed incompetent. Frequently POAs have the authority to act as though they were the principal even if the principal is still competent so they can act in the principal's stead.
The POA can (and usually should) deny family the opportunity to strip the elder's home of valuables while they are hospitalized or in rehab. POA can press charges if items are not returned upon request. POA can usually sell items and use the monies raised to fund care needs. POA is not allowed to sell items and pocket the money for their own use or "gift" the principal's property to others.
Most of the time no one has a right to see a POA agreement before it is activated but it may become a public document when the POA begins using it's authority. Some states require the POA to be filled with the county court when activated for incompetence. Certainly if someone sues or contests the POA then the court will see the document and may or may not make it public.
POA does not give someone any rights to the property of someone else. But they may have a lot of power over it. It depends on what kind of Power of Attorney they have and how the document was written.
Sometimes the document gives the person with the power of attorney the right to give themselves gifts or sell any property. However, the power of attorney is supposed to act in the best interests of the person who granted them that power-the grantor. They have a "fiduciary duty" to the person. If the POA is not acting in the best interests of the grantor, their power of attorney can be legally challenged in court. They can't, for example, put a house owned by the grantors into their own name. That would be called "self dealing".
If you challenge the power of attorney, your sibling will have to produce the signed document in court. If you think your sibling is taking advantage of your parents, you and your other siblings should contact an attorney that specializes in probate.
Also, if either of your parents is still legally competent, they can revoke the current power of attorney and name a new one. You are considered to be legally competent until a court says you are not.
3 Answers
Helpful Newest
First Oldest
First
The POA can (and usually should) deny family the opportunity to strip the elder's home of valuables while they are hospitalized or in rehab. POA can press charges if items are not returned upon request. POA can usually sell items and use the monies raised to fund care needs. POA is not allowed to sell items and pocket the money for their own use or "gift" the principal's property to others.
Most of the time no one has a right to see a POA agreement before it is activated but it may become a public document when the POA begins using it's authority. Some states require the POA to be filled with the county court when activated for incompetence. Certainly if someone sues or contests the POA then the court will see the document and may or may not make it public.
Sometimes the document gives the person with the power of attorney the right to give themselves gifts or sell any property. However, the power of attorney is supposed to act in the best interests of the person who granted them that power-the grantor. They have a "fiduciary duty" to the person. If the POA is not acting in the best interests of the grantor, their power of attorney can be legally challenged in court. They can't, for example, put a house owned by the grantors into their own name. That would be called "self dealing".
If you challenge the power of attorney, your sibling will have to produce the signed document in court. If you think your sibling is taking advantage of your parents, you and your other siblings should contact an attorney that specializes in probate.
Also, if either of your parents is still legally competent, they can revoke the current power of attorney and name a new one. You are considered to be legally competent until a court says you are not.
ADVERTISEMENT