I've granted power of attorney to John; if he gets into credit card debt, could his creditor come after me? - california bank and general power of attorney
I have a durable power of attorney general in California, my brother John. It is a requirement of the credit card name a few. If it goes into financial difficulty, liking your creditor freeze my bank account? I think not, because the accounts belonged to me. However, I went with him to the bank to sign the program in the bank today, John R. POA in all my bank statements. Its kind of fear and had a few restless nights ... Your answers are very appreciated .. Thank you.
Thursday, February 11, 2010
California Bank And General Power Of Attorney I've Granted Power Of Attorney To John; If He Gets Into Credit Card Debt, Could His Creditor Come After Me?
4 comments:
The creditors of his brother not to the repayment of debts against your property.
His concern is whether his brother used his name to create debt for those who are financially responsible. Your POA must be written specifically, their right to any claim to remove the build in their name. Checks should be rewritten to say, the plan will call for all limited to one copy of the Action Plan prior to the granting of credit.
If John does not write checks on your account, to sign bills to pay, it can mark John wrote checks on your account, to pay bills. If John Fund can withdraw from your bank account can handle his business, John withdraw money from your bank account to handle their own business. If John is not a transfer from your account ... If John is in trouble and needs money, can help themselves to your money.
If you are scared and sleepless nights, that means that you have the answer to your question as soon as possible to make it irreversible.
I work for a lawyer with the POA as part of their estate planning and preparing real estate practice. Never, never, under any circumstances give anyone POA if you trust them completely and only if you had counsel prepare and review the document to ensure that it does not contain anything that might later regret. Most lawyers have POA forms that are regularly used and the cost of development must have a minimum - you may not their faith in printed form, has an officand store in the supply, from the Internet or a non-lawyer in a bank.
The POA gives the possibility of receiving credit in your name ... So you can be difficult ... We hope that you can trust him.
If one credit card debt in their own names do not touch. But the problem is that if financial problems may try to use their good credit to become of him, for example, to obtain a new credit card on your behalf, to repay all existing debt, but also access to your bank account, the technically your account could be empty if you want.
The fact that the power was given, suggests that trust in him and not just think something like that.
Or rely on intuition and trust him, or sit and talk about their fears of a power to revoke the will if you do not feel safe with him in this position may be.
However, if you trust it would not be one of the things above, you should no problem because all have done in his name, is his problem.
Post a Comment