If my step-daughter has my husband’s POA, will I have access to our accounts?
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If my step-daughter has my husband’s POA, will I have access to our accounts?
My husband has given his daughter POA. He is 13 years older and may have Alzheimer’s. The POA was executed while he was of sound mind.
Asked on April 30, 2011 under Estate Planning, Colorado
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
The power of attorney, or POA, will potentialy give your step daughter access to and control over the accounts, but it does not take away your own access or control. For example: if you and he had a joint account, you could both access it, correct? By the POA, your husband gives your step daughter a right of access and control which she can wield in his stead or on his behalf...but it does not take away the rights and control you had.
Note that not all POAs are the same--since they are created by agreement, they only convey those powers and authority which the creator wants to grant. So, for example, there are POAs which do give a access to accounts and ones which do not. You'd need to look at this POA in order to see exactly what your step daughter can and cannot due.
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