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#1174721 - 05/01/09 08:55 PM POA appoints self as beneficiary on accounts
nemsi Offline
Gold Star
Joined: Nov 2005
Posts: 383
We have an account where the POA is changing the beneficiaries on customers account. Grandchildren were previously named beneficiaries on elderly customers account. POA is naming herself beneficiary. i think i just read something on this site about POA changing beneficiary but I can't find it. Help!!

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#1174734 - 05/01/09 09:06 PM POA appoints self as beneficiary on accounts
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 79,893
Galveston, TX
Most State laws will not allow this and the POA itself may not grant that specific right.
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#1174988 - 05/03/09 11:05 PM Re: POA appoints self as beneficiary on accounts nemsi
nbk2yj2 Offline
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Joined: Aug 2006
Posts: 629
Paradise!
It is under anonymous POA second page.

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#1174997 - 05/04/09 03:21 AM Re: POA appoints self as beneficiary on accounts nbk2yj2
BBoyd Offline
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BBoyd
Joined: Mar 2002
Posts: 2,494
MI
The POA document must specifically state that the attorney-in-fact can do this. Most do not allow it.
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Opinions are mine and never to be taken as legal advice!

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#1175555 - 05/05/09 11:01 AM Re: POA appoints self as beneficiary on accounts BBoyd
nbk2yj2 Offline
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Joined: Aug 2006
Posts: 629
Paradise!
Thanks BBoyd,

I'm aware, just pointing to post for nemsi

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#1176623 - 05/06/09 01:30 PM Re: POA appoints self as beneficiary on accounts nbk2yj2
nemsi Offline
Gold Star
Joined: Nov 2005
Posts: 383
Thanks everybody! nbk2yj2, with your response I was able to locate the previous post- I appreciate that.

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