I was recently told by a family member that because they are Power of attorney, they can spend money of the estate any way they wish. Can a Power of Attorney in the state of Maryland, spend, AT WILL, any monies they wish, according to their judgement, without having to give an account to the offspring of the deceased, where there is no will. Does anyone know about this type of thing? We are not getting any information about anything. If we ask questions, we get, I can do whatever I want because I am power of attorney and I don't answer to you!
Power of attorney is a legal document which Person A signs to vest Person B with the authority to sign certain legal documents and accomplish certain tasks on Person A's behalf. Any human being who says I am power of attorney is claiming to be a piece of paper, and is thus a doofus. Even if the person HAS power of attorney, it ends when Person A (the signer) dies. Once a person dies, any power of attorney dies with them. The executor then has power over the estate according to the terms of the will. Any beneficiary of the will has standing to file suit against the executor or power of attorney and demand an accounting, especially since they're making statements like that. If there is no will, any of the people who stand to inherit according to the laws of intestate succession (the laws of who gets a dead guy's stuff when there's no will) can bring suit against this person. If they are wielding a power of attorney post mortem (after the principal's death), they may owe the estate every dollar they took.
A power of attorney authorizes a person or persons to administer their bank accounts to pay bills, and for other reasons. The document is good as long as the person is alive, or until that person revokes it.The power of attorney dies when the person who authorized it dies
If the person is deseased.they cannot just spend any amount they want when they wantthey are suppossed to keep track of any and all moneys used and what it's spent on.ubntil the probate courts do the rest.if there is no will. Sounds like there may be fraud involvedconsult a prbate atty. they can tell you for free if they are ready for prison or not.
