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Paramount
Sweet!
Member since 7/12 4289 total posts
Name:
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Looking for legal opinions - Power of Attorney: update
Update: The bank was giving me a hard time. It got escalated to the head person in the court department and was completely cleared up!!!!
COLLEGE HERE WE COME!!!!!!!!
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I am just looking for an opinion on the legality of a POA in the state of NY.
My niece turned 18 last week. She is on the spectrum so I will be taking care of her now that she is 18. Mom and dad are both dead.
There was $30k put aside in a court blocked account in Penn when she was a minor.
SO she lives in CT. I had my attorney draw up the POA in CT. Went to CT to have her sign, notarize, witnesses. So the form is 100% legal and done the right way.
I have a court order showing that she can take the money out after she turns 18.
So I went to the bank today in Manhattan and they said either she has to come to the bank to take the money out or I have to get a court order saying *I* can take the money out.
If I have the POA to act on her behalf why is thank being such a pr!ck?
Message edited 6/6/2017 5:08:47 PM.
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Posted 6/6/17 12:52 PM  |
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Pumpkin1
LIF Adult
Member since 12/05 3715 total posts
Name:
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Looking for legal opinions - Power of Attorney
Does she have a special needs trust in place? If so, I would probably consult with an attorney to make sure everything is kosher before you start withdrawing on her behalf.
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| Posted 6/6/17 1:03 PM |
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BargainMama
LIF Adult
Member since 5/09 15660 total posts
Name:
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Looking for legal opinions - Power of Attorney
The POA should cover that. I would contact the bank manager. Isn't that the whole point of the POA? I have a POA in front of me, since my son just turned 18 and on the spectrum also. My impression was that he signs off on it, and that allows me to make any and ALL financial decisions including banking transactions on his behalf.
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| Posted 6/6/17 1:13 PM |
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Eunyboo
<3
Member since 7/12 4376 total posts
Name:
E
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Re: Looking for legal opinions - Power of Attorney
My experience with this is on the bank side. I worked at a credit union for 6 years and as a teller for 3. We had plenty of members who had POA. They had to bring it each time and we had notes on the account regarding the POA but they were added on as POA (almost showed up as joint members). I would talk to the branch manager.
Message edited 6/6/2017 1:25:23 PM.
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| Posted 6/6/17 1:25 PM |
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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Looking for legal opinions - Power of Attorney
The POA should be accepted in NY even though executed in CT. I would go back to the bank and push the issue with the branch manager or higher if necessary
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| Posted 6/6/17 1:35 PM |
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MichLiz213
Life is Good!
Member since 7/07 7979 total posts
Name:
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Looking for legal opinions - Power of Attorney
My brother is on the spectrum and my parents have a guardianship in place. That may be different from POA, but they consulted a special needs lawyer to have this put into place.
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| Posted 6/6/17 1:37 PM |
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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Re: Looking for legal opinions - Power of Attorney
Posted by MichLiz213
My brother is on the spectrum and my parents have a guardianship in place. That may be different from POA, but they consulted a special needs lawyer to have this put into place.
Guardianship and POA are very different. To some extent, they proved the same powers, but a POA form is relatively simple and should be accepted by the bank.
To the OP - you may want to consider pursuing guardianship if you will be making all healthcare and financial decisions for your niece
Message edited 6/6/2017 2:03:14 PM.
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| Posted 6/6/17 2:02 PM |
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SusiBee
. . . . .
Member since 3/09 8268 total posts
Name:
S
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Re: Looking for legal opinions - Power of Attorney
Have the bank branch consult their legal department. They may not have experience in dealing with POA.
I am no way versed in legal opinions, but this is my experience.
I have POA for my FIL because I take care of all his financial/medical/residential stuff. He's not capable of making good decisions, MIL did all that and she;s been dead for 9 years.
I am joint on the savings and checking account, but not listed as POA for his retirement CD's. I have to make changes to those CD's so I went to the branch last week to have the POA vetted and then send the paperwork to retirement services for them to review and add me as POA to those accounts.
I had to go thru the same process with the 401K administrator and with his pension provider.
Hope this helps.
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| Posted 6/6/17 2:21 PM |
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Paramount
Sweet!
Member since 7/12 4289 total posts
Name:
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Looking for legal opinions - Power of Attorney
This is a nightmare. The bank is just saying "no" for the most part.
I will have to take her to the bank since they are saying no.
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| Posted 6/6/17 3:10 PM |
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alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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Looking for legal opinions - Power of Attorney
The POA form in NY is long these days and different from other states. It might have to be on the NY form since the bank is in NY.
My mom lives in FL but was on our house. We recently refinanced and took her off. She needed to sign a NY POA.
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| Posted 6/6/17 4:27 PM |
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BargainMama
LIF Adult
Member since 5/09 15660 total posts
Name:
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Re: Looking for legal opinions - Power of Attorney
Posted by Paramount
This is a nightmare. The bank is just saying "no" for the most part.
I will have to take her to the bank since they are saying no.
Honestly that is probably the best thing to do. I would withdraw it all and immediately go open up another account elsewhere since she will be with you.
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| Posted 6/6/17 4:34 PM |
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