QUESTION
Does the DPOA of Health Care grant one the power over financial assets?
Asked on Apr 20th, 2014 on Estate Planning - Michigan
More details to this question:
Does the DPOA of Health Care also grant the power to withdraw assets from a loved one's bank account? How about after the loved one dies? If the loved one dies without a DPOA, does family have a right to bank assets of the loved one if there was no will and there is no DPOA?
3 ANSWERS
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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No. You need a separate POA for financial matters. The health care form deals ONLY with medical treatment matters. You CAN have a General Durable Power of Attorney that handles both financial and medical powers. A health care form would not do both, however.
Answered on Apr 22nd, 2014 at 8:10 AM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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No, no, no and no. All assets individually titled go into the deceased 's estate. See an attorney with the details.
Answered on Apr 21st, 2014 at 7:42 PM
Business Law Attorney serving Bingham Farms, MI
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James T. Weiner, P.C.
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A Durable power of attorney for health care ONLY grants the right to make health care decisions in the absence of the grantor.. it grants no other rights a DPOA HC expires when the grantor dies.. To get the bank assets in the absence of a trust someone must file a probate estate and be appointed Personal Representative of the estate.there are simplified procedures for small estates (
Answered on Apr 21st, 2014 at 6:58 PM