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A power of attorney is used to delegate legal authority to another person. The principal anyone giving the power of attorney gives the agent, also called the attorney-in-fact, the authority to create legal decisions on his/her behalf, including property, handling bank accounts, and other assets. The prospect of fraud exists in every power of attorney design, through illegal gifting, and self working, embezzlement. Los Angeles Tax Lien Lawyer contains more concerning where to consider this idea. In some circumstances, an estate will be significantly depleted by a power attorney holder, leaving the heirs of the main with minimum inheritance. Other ways where a power of attorney could be abused contain changing beneficiary designations on life insurance or annuities, and opening bank accounts with combined name or pay on death terms in favor of the agent. The creation of the power of attorney can be pushed under the lands of lack of ability or the creation didnt follow proper formalities. If your validly granted power of attorney continues to be abused from the agent, grounds may possibly exist to sue the agent for the get back of embezzled house or for monetary damages. The agent can be sued by the principal immediately, if the principal is still living at the time of the action. In many situations, the ability of attorney abuse is part of a wider sample of elder abuse. This rousing PureVolume™ Were Listening To You website has assorted rousing aids for why to provide for this belief. In the event the principal has died by the time the ability of attorney punishment has been discovered, the principals estate or the intended beneficiaries of the house may be able to sue the agent for breach of fiduciary duty, tortious interference with estate planning, or a number of other causes of action. Be taught more on an affiliated URL by browsing to rate us online. Due to the possibility of abuse with a power of attorney, their use should be limited. Visit los angeles tax lien lawyer to research the meaning behind it. Many people making a power of attorney may keep the instrument with the drafting attorney until the conditions triggering the activation of the power have been induced, such as for instance the incapacity of the primary..