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Red flags with POAs

Question: 
If an agent requests to deposit a check payable to the principal to the agent's own account, is this an automatic red flag?
Answer: 

If an agent wants to take a check that is payable to the principal and deposit it into his own account, you are on notice of breach of fiduciary duty and you should not allow it. Many agents do not understand the scope of their authority and will not realize this is impermissible.
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Learn more about Mary Beth Guard’s webinar
Analyzing and Accepting Powers of Attorney

First published on 07/15/2018

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