A recent Wall Street Journalarticle highlights the increasing occurrence of power of attorney abuse. The article, “Power Grab! Signing Over Power of Attorney to a Loved One Has Never Been Trickier. Here’s What You Need to Know,” discusses how “The ‘power of attorney,’ a legal arrangement that helps older people turn over management of their finances or other business matters to family members or friends, is emerging as a vehicle for fraud”
It can be hard to imagine how a family member might defraud you or steal your money using a power of attorney, but power of attorney abuse is on the rise. In fact, in light of all the increasing incidences of elder abuse, the federal government may enact an Elder Abuse Victims Act.
Using a power of attorney to access financial documents, an agent named in a power of attorney document may try to steal money, run up credit card debt, sell property wrongfully, or otherwise engage in fraud.
How can you make sure the agent you name in your power of attorney doesn’t take money from you? Unfortunately, there is no surefire way. The best thing to do is to really think about the details of your power of attorney when you first set it up with your estate planning lawyer. I recently posted an article about this very topic. For example, when you first set up the power of attorney, you should be cautious in naming your agents and restrict the powers granted.
What do you do if someone is abusing a power of attorney in Texas? If you suspect power of attorney abuse, consult with a lawyer to stop the exploitation immediately. A strongly worded letter from a lawyer may be enough to stop elder abuse. If that’s not enough, the attorney can help you weigh the costs of taking the agent to court. Regardless, if you have any suspicions, don’t wait until it’s too late–or else the estate may be drained before you get around to acting.
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Visit www.ShuttLawFirm.com for more information on how to stop power of attorney abuse, how to stop power of attorney fraud, making a Texas Power of Attorney, a Texas Durable Power of Attorney, or about other Texas estate planning documents. You may also email Wills, Estates, Probate, and Guardianship attorney Isaac Shutt at ishutt@shuttlawfirm.com.
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You can also call Mr. Shutt at (214) 302-8197 for more information on the topic discussed in this blog or to discuss a different legal matter. For existing clients, quick phone-calls and brief e-mails are always free at Shutt Law Firm PLLC. Please consider the Shutt Law Firm if you’re looking for a Richardson lawyer for probate, Richardson Wills Lawyer, Richardson estate planning attorney, power of attorney in Richardson, TX, or guardianship attorney in Richardson area.
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I quit my job at the Montford unit as a correctional officer two years ago due to workplace drama and leaving my emotionally abusive ex boyfriend that used to work there with me. I started a new job at Lubbock county as a jailer and I didn’t like it so I decided to quit. I ended up having to move in with my father. I told my dad that I didn’t want to talk to any of my ex coworkers due to the drama and lies and some of them still talking to my ex boyfriend. They got in contact with my father and my mother without my permission and started talking to them and trying to control my life to prevent me from moving on. Trying to dictate who I date where I work and what I do using police to monitor me without my permission. For no reason they have no reason to do what they are doing. I later found out that at my old apartment my ex had cameras installed to spy on me without my permission and was letting other people watch me and my kids. Also cameras in my car and gps and monitoring my phone without permission. Which to me is abuse of power and nobody will believe me or help me because of their position in power. My dad won’t stop talking to them and they are telling him to be emotionally abusive but acting like it’s coming from someone else when it’s really them the whole time. I’m suffering mentally and emotionally from this. He is using my children against me. When I try to get in my car he tells my kids to jump out of the car and run down the street. He tells my kids I’m crazy and not to listen to me. I am trapped in this situation and I don’t know what to do anymore. Can you please help me.
Power of attorney abuse. A lady persuaded me to give her power of attorney when I was in the hospital
When I got out of the hospital my RV was gone. She kept giving me different excuses where it was. She sold it without my permission. And gave me 15 thousand dollars cash for it. I had only had it a few months and I paid 42 thousand for it. But I didn’t want her to sale it because that is we’re I was living. Now I am almost homeless