QUESTION
PROS AND CONS OF TRANSFERRING YOUR INHERRITANCE IN ANOTHER COUNTRY TO YOU POWER OF ATTORNEY'S NAME FOR HIM TO HANDLE YOU BUSINESS AND THEN FORWARD THE
Asked on Nov 06th, 2013 on Real Estate - New Jersey
More details to this question:
estate of my father is being sold in another country. I enlisted a power of attorney in that country to sell the property and send the money to me. The POW advised that I can put the property and money on his name to make proceedings easier to handle. What are the pros and cons of doing that
1 ANSWER
2 Awards
I'm not sure why you would have to transfer it to the name of the person holding the Power of Attorney. The whole purpose of a Power of Attorney is for that person in the foreign country to be able to act on your behalf. You should ask the POA what the benefits are, and why he or she cannot complete the transaction with the POA.
Answered on Nov 09th, 2013 at 6:43 PM
Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship