Is there a financial or legal risk when husband’s ex-wife has durable POA?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Is there a financial or legal risk when husband’s ex-wife has durable POA?
My husband’s ex-wife still has durable power of attorney even though they have been divorced for over 6 years and we have been married for 4. She lives in Costa Rica (where my husband is from). We live in USA. He finds it convenient for her to keep it as she has agreed to go to the bank in Costa Rica a couple of times in the past several years to conduct business for him. I am concerned about this but don’t know a lot about it. Is there a financial or legal risk here?
Asked on February 22, 2012 under Estate Planning, New York
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Yes, there is both if you think that she will act against his interests and for her own purposes. If she has a POA then she can transact business in his name as attorney in fact. So besides the banking issues she can bind him in a legal contract, etc. You do have recourse against her if that happens but you could be in a big mess before things iron out. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.