Answer:
Generally, no. While some states allow a bank not to accept a power of attorney, many states require that a power of attorney be accepted with few exceptions. That could mean that Sally, who doesn’t trust co-owner John’s attorney-in-fact Mike, may have to decide whether to go along with John’s desire to have Mike on the account as an authorized signer, or to open another account in her own name and keep her funds separate from John’s.
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Learn more about John Burnett’s webinar DEPOSIT ACCOUNTS: Closings and Changes
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