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#2253902 - 05/13/21 08:10 PM Power of Attorney for Payable on Death CDs
Amanda Offline
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Joined: Sep 2020
Posts: 5
We have a customer who have an Power of Attorney where she named her son an the Agent. He have all powers except for changing beneficiaries. The customer have multiple CDs which they are POD. The son wants to close all of the CDs (he claims he doesn't want kids/grandkids to get the money) but I don't think he can close them since the customer is not deceased even though he is the Agent. How would you handle this situation?

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#2253904 - 05/13/21 08:45 PM Re: Power of Attorney for Payable on Death CDs Amanda
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 76,943
Galveston, TX
Call your legal counsel pronto. If the customer was deceased, then the POA would have died with him. Sounds like you are in the middle of a family dispute. Your legal counsel can help you figure out how to wriggle out of it .
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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