Can a Power of Attorney change the beneficiary on a bank account?

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Can a Power of Attorney change the beneficiary on a bank account?

Asked on October 10, 2014 under Estate Planning, Texas

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

Under Texas law as it relates to a Durable Power of Attorney, you can not modify the beneficiary on a bank account with out the written consent of the owner of the account.  So if there is a beneficiary named you can not change the name.  If there is no beneficiary named you can not name one.  You can not in this instance act independently.  You must act with the written consent of the account owner. Good luck.


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