QUESTION
Can a person file a security note while she has power of attorney on her parents?
Asked on May 15th, 2013 on Estate Planning - Michigan
8 ANSWERS
Your question does not contain sufficient facts on which to base an answer.
Answered on May 17th, 2013 at 2:32 AM
You will need to clarify your question with a little more detail. The best answer I can give you right now is, "it depends on what powers the Power of Attorney Document says".
Answered on May 16th, 2013 at 10:26 AM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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If the power of attorney allows her to and it is not a breach of her fiduciary duty to the parents, yes she can.
Answered on May 16th, 2013 at 10:26 AM
Estate Planning Attorney serving Wilmington, DE
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Reger Rizzo & Darnall, LLP
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Depending on what the power that are given, some attorneys in facts, or agents, can do anything the principal can do, so yes, it may be possible.
Answered on May 16th, 2013 at 10:26 AM
Business Law Attorney serving Bingham Farms, MI
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James T. Weiner, P.C.
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Not to protect herself unless she is loaning new money to her parents it has to be new money
Answered on May 16th, 2013 at 10:24 AM
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A security note for what? Read the power of attorney, it tells you what you can do. If you need assistance interpreting it, ask an attorney for help.
Answered on May 16th, 2013 at 10:24 AM
If by this, do you mean that you as the holder of the POA and sign a note in your favor individually, it would breach your fiduciary duty to engage in self dealing.
Answered on May 16th, 2013 at 10:24 AM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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I don't understand the question as there are not enough facts.
Answered on May 16th, 2013 at 10:24 AM