Having a person appointed as your power of attorney is a necessary step to ensure that your wishes are followed if you are incapacitated or unable to speak for yourself. However, due to liability lawsuits there are certain banks, investment houses and other entities that might not accept your power of attorney.

Why Would they Deny Your Legal Representative?

There are several reasons that an agency might not accept the person you have appointed as your power of attorney:

  • They feel that the person is in some way exceeding the powers that are specifically granted in your Power of Attorney legal documentation.
  • They have a reasonable suspicion that the document was forged or is not legally correct. IF you have used an agency online and not gone through a legitimate attorney for these documents, agencies can flag them as unacceptable.
  • There is an indication that the power of attorney has been revoked prior to your agent making their request.

Agencies Liability for Damages

Why the close scrutiny of these documents? Simply put, the agency can be held responsible for any damages that you or your estate experience due to them allowing an illegal person to make decisions for you. Because of this, many will choose to err on the side of caution and not accept a document they find questionable.

Keep in mind they are also responsible for damages that are incurred if your legal representative is denied. If you need legal assistance in a power of attorney matter, contact Stano Law group today.