Poa
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Poa
I’m poa over my dad but his
bank denied giving him money
out of his bank. Cant he still
withdraw his own money?
Asked on November 27, 2018 under Estate Planning, Ohio
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
The bank is wrong: a POA lets someone else act for you; it does not take away your own authority or right to act for yourself. It's not a legal guardianship, in which the person loses the right to act for himself and only the guardian can act for him; with a POA, both the principal (person making the POA) and agent (person given the power) can act.
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