Posted by Roger_OH on 9/3/08 4:23pm
Msg #263093

POA Question

I was under the impression that a document such as a financial POA was only valid as long as the person granting the POA was alive. Once deceased, the POA is invalidated as of that date and the will/probate process takes over for the person's affairs.

Is this correct, or can a POA continue to be used after death?

Reply by ME/NJ on 9/3/08 4:24pm
Msg #263094

legal needs to chime in on this one n/m

Reply by Linda_H/FL on 9/3/08 4:32pm
Msg #263095

To my knowledge and IME the POA ceases upon death of the principal.

Reply by SharonH/OH on 9/3/08 4:33pm
Msg #263096

I'm not an attorney, but in my many years working in an Ohio law office, it was always my understanding that any POA dies with the person granting it. At time of death, everything stops until an estate is opened and then the fiduciary named by probate to handle the estate becomes the authority.

Not to be construed as legal advice, etc. etc.

Reply by Lee/AR on 9/3/08 4:54pm
Msg #263098

Ditto Linda, Sharon. not a lawyer & all that. n/m

Reply by Dave_CA on 9/3/08 5:03pm
Msg #263100

Re: Ditto Linda, Sharon. not a lawyer & all that.

Not a lawyer either but I remember Hugh commenting that this is not always the case.

Really need a lawyer to answer.

Reply by GA/Atty on 9/3/08 5:28pm
Msg #263109

Your POA expires when you expire! n/m

Reply by Linda_H/FL on 9/3/08 6:19pm
Msg #263116

Okay...now that it's been established that the POA is dead

I'm curious why you were asking, Roger..what happened? If you don't mind sharing..

Reply by Bob_Chicago on 9/3/08 6:57pm
Msg #263122

Not legal advice, yada. yada, but there is an instrument


known as as a "Power of attorney coupled with an interest". (eg the AIF
has an interest in the transaction such as a security interest), where in some
states and in certain circumstances. the POA may NOT be revoked by the principle
and may survive and still be effective following the death of the principle.
As others have said , check with an atty.
The following link discusses the issue.

http://www.lectlaw.com/def/a026.htm

Reply by Bob_Chicago on 9/3/08 8:15pm
Msg #263128

Re: Not legal advice, yada. yada, but there is an instrument

oops "principle" should be "principal"

Reply by KODI/CA on 9/3/08 10:46pm
Msg #263146

Re: Not legal advice, yada. yada, but there is an instrument

In California the POA expires when the issuer expires. How do I know?
Two weeks ago my mother in law issued a POA that was notarized. In less than 12 hours she expired. At that time, so did the POA.

Reply by Bob_Chicago on 9/3/08 11:38pm
Msg #263149

Sorry about your MIL, but notarization of the POA is NOT..

the issue.
The POA must state that it is "coupled with an interest" and
actually be so coupled.
Again , not legal advice etc, etc

Reply by GA/Atty on 9/4/08 6:45pm
Msg #263212

I think that kind of agency is substantially different than

a mere POA.

Reply by Joanne_NY on 9/4/08 11:03am
Msg #263176

Power of Attorney, in law, written document, certified by a notary public, designating a person or party as an agent empowered to act for another person (principal) in a legal capacity. A general power of attorney authorizes the named agent to act on behalf of the principal or signer in any legal circumstance, whereas a special power of attorney specifies and restricts the province of an agent's responsibility. Most frequently, people will give another person power of attorney when they are ill or for other reasons are unable to conduct their own affairs, or when they are absent from home or business for a long period of time. A power of attorney is revocable under normal circumstances and becomes void on the death of the principal. (Encarta Dictionary is the source!)