If I have POA for my dad and pay hiss bills and I’m on his bank accounts, should he have to go into a home can they come after my own bank accounts?

Get Legal Help Today

 Secured with SHA-256 Encryption

If I have POA for my dad and pay hiss bills and I’m on his bank accounts, should he have to go into a home can they come after my own bank accounts?

Asked on June 6, 2017 under Estate Planning, Connecticut

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

No, being the attorney-in-fact or agent (those are the terms for someone given power by a POA) for someone does not make you personally liable for the principal's (the person creating the POA; your father) debts. Being a signer on his accounts or otherwise having authority over them does not make you liable, either. Be careful to not take any of his money for your own purposes--only use it in provable or documentable ways for him; if you take his assets for yourself or your own benefit, they may be able to go after those transfers and undo them, on the grounds they were fraudulent as to actual or potential creditors. Once they do that, they may look generally into your finances and assets, effectively forcing you to prove that the rest of your money, etc. is yours, not his. Rather than getting into that, don't take any of his money or property in the first place.


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.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption