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A power of attorney is used to assign legal power to another person. The principal (the individual granting the power of attorney) provides agent, also known as the attorney-in-fact, the power to make legal conclusions on his/her behalf, including handling bank records, real estate, and other assets. The prospect of fraud exists in most power of attorney agreement, through self dealing, embezzlement, and illegitimate gifting. In a few situations, a of attorney holder can considerably lessen a property, making the heirs of the principal with little or no inheritance. Different ways when a power of attorney could be abused include changing beneficiary designations on life insurance or annuities, and opening bank accounts with joint title or pay on death provisions in support of the agent. If you think anything at all, you will certainly desire to learn about sponsors. The creation of the power of attorney could be pushed under the grounds of lack of capacity or that the creation did not follow proper procedures. Reasons may exist to sue the agent for the return of embezzled property or for monetary damages, If your validly given power of attorney continues to be abused by the agent. The principal may sue the agent directly, if the principal remains living at the time of the motion. In many circumstances, the power of attorney abuse is part of a wider pattern of elder abuse. To research additional information, please consider taking a glance at: the link. If the principal has passed on by the time the ability of attorney abuse has been discovered, the principal's estate or the intended beneficiaries of the home might be ready to sue the agent for breach of fiduciary duty, tortious interference with estate planning, or a number of other causes of action. Due to the potential for abuse with a power of attorney, their use must be limited. Visit dallas lawyer to explore the meaning behind it. Several individuals creating a power of attorney may keep the instrument with the drafting attorney until the circumstances causing the activation of the power have been induced, such as for example the incapacity of the primary. Be taught further on the affiliated URL by clicking Life As A Criminal Defense Lawyer App's Tube.