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Question:

Bank accounts and power of attorney?

If you have power of attorney over a bank account of a person who has passed away, does that mean the remaining balance is considered your asset and you have the right to that money? Thanks.

Answer:

No such thing. Power of attorney becomes invalid upon death. The remaining balance is frozen and can only be touched by the executor of the estate to pay off any final expenses or deposit any money owed and paid to the estate. A separate account is opened in the name of the executor and the estate.
NO your power of attorney dies with the person this money is now the responsibility of the state recognized estate executor the POA can go get in trouble if they can't account for every penny after the time of death.
No. The money belongs to the estate. If there is a will, the executor follows the will and distributes the money. If no will, probate court decides who are the heirs.

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