Withdrawal for POA on Retirement Account

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Question:

A client's spouse passed away in November 2010. The Client was POA on a retirement account. The account title has not been changed since his death. Can she take a withdrawal?

Answer:

A power of attorney dies with the grantor. The retirement account is part of the spouse's estate and should now be passed to the named death beneficiaries or according to their will or State probate court order.

First published on BankersOnline.com 9/5/11