What is the legalityo f transferring funds with POA after death?

Get Legal Help Today

 Secured with SHA-256 Encryption

What is the legalityo f transferring funds with POA after death?

As POA I moved money from a retirement account to my father’s personal account and then to my personal account; the last transaction happened after his death. Are the transfered funds considered part of the estate?

Asked on June 12, 2012 under Estate Planning, Maryland

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

I am so sorry for your loss.  First you need to understand that a Power of Attorney dies with the person for whom it is enacted.  So you had no authority to act once your Father passed away.  That transfer could result in a breach of fiduciary duty claim by the beneficiaries of his estate.  And yes, the funds are part of his estate.  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.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption