Are there any Regs that pertain to an incapacitated member who does not have any guardian: is a power of attorney acceptable? If not, then what are we to do before allowing someone else (such as a relative) to manage the member’s accounts?
What is the meaning of a POA (Power of Attorney) and when is it used for an account?
Is there a checklist or procedure and/or forms for my staff to use when they take in POA documents to help simplify the process?
There are a lot of clients visit my branch to open a business checking account on behalf of the business owners. In the last case, a US resident visited my branch along with the power of attorney document authorizing him to open the bank account on behalf of his friend who is the sole member of a Wyoming LLC. He had other necessary documents like articles of organization, EIN, copy of ID etc. However, I did not open him a bank account because he was not listed as the member or manager of the company.
What are your suggestions? Thanks
Can you have POA for a person whose account is in a trust?
In what situations can an attorney in fact be allowed to transact on behalf of a trustee?
In the state of Ohio, can a Successor Power of Attorney act even if the original POA has not stepped down, become incapacitated, or deceased? We have a local attorney's office telling us that in fact they can due to a change in 2010.
Can an agent/attorney in fact close an account owned by the principal?
A father and son wanted to open an account today where two signatures would be required on each check. It’s extra work for them, but does it really matter to us?
If an agent requests to deposit a check payable to the principal to the agent's own account, is this an automatic red flag?