When the individual with the power of attorney invests in CD's, real estate is it legal to place their name on the transaction as well as the person they are acting for? When the individual dies, without a Will, does that investment go to the individual with the power of attorney?
A Power of Attorney is a legal document where you as the Attorney-in-Fact are acting on behalf of the person who gave you authority. Anything that you sign should have your name on it with a CLEAR STATEMENT THAT YOU ARE THE ATTORNEY IN FACT FOR THE OTHER PARTY. That does not mean that you are on the document as an individual. And no, the investment does not revert to you when the person passes away. In fact, the Power of Attorney dies as well with the person. Do not put your name on anything as an individual. That would be a breach of fiduciary duty and could get you in to real legal trouble.
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