increment wrote: ↑Tue Sep 29, 2020 9:48 am
ResearchMed wrote: ↑Tue Sep 29, 2020 9:35 am
How would some entity (bank, etc.) know that there was a "new" POA and the one handed to them just now is no longer actually the correct one? Someone already having some, er, difficulties with honesty surely won't be saying that "there might be [or there IS] a newer POA, and what I'm handing you isn't valid anymore"!
And this could happen in all innocence if someone with a POA doc simply has no idea there is a new, improved version.
Well, it seems that typically PoAs say something like, "Follow this PoA until you are specifically notified that it has been revoked. You will not be held responsible for not having been told that this one has been revoked." So part of the task of having a new PoA done should be knowing where old PoAs have been filed and submitting notices of revocation.
Uh, good luck with that, IF the named person is incompetent, and there is an errant POA agent...
There are more than a few threads here on BH where a POA was abused, so it's clear that not all such agents would take the time to track where they've filed the POAs, and some would willfully continue to use such.
Such an agent is unlikely to want to file any notice of revocation even if they knew precisely where all such POAs had been filed.
I don't see any solution, given there is no "Central Registry of ALL POAs Ever Executed"...
Yes, one should only choose such agents one feels are honest, but isn't that likely what happened in the situations that landed in trouble? Wouldn't all or most think, as is often the case (e.g., investing with family members), "Oh, that won't happen to me"?
It just gives us pause, as at least one of us will likely need someone to serve in this function, and obviously, the named person must take care of this in advance, so it could be quite some time.
I don't mean to sound paranoid, and we have no reason whatsoever to think *we* would ever land in such a situation with some agent, but... you know... "just because you're paranoid doesn't mean they aren't out to get you..."
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