A good question came up the other day with POA and what they can do on an account that their is another signer on. I know that the POA gives them rights to do things for the person named but what happens when it is a joint account. The funds in the joint account are really the funds of both and either gets the funds when the other passes away but what about if a poa comes in.
Let me know your thoughts. thanks

Jim G -- You had "hijacked" your own thread by posting a different question to your question on MSB-deposited checks. I've broken them apart so they both show up for users to respond to.

If John and Jane have a joint account, and Jane gives Sally her power of attorney, there are now three people who can sign checks on the account. Sally is supposed to be acting on Jane's behalf, but John needs to have faith in Sally's judgment, too.

If John passes away, Jane becomes the sole owner of the account, and Sally's still her attorney-in-fact.

If instead Jane passes away, John becomes the sole owner of the account, and Sally's power of attorney is void at the moment of Jane's demise.

"demise"
poor Jane!