Successor Trustees - Does One Have More Power Than The Other

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Question: I am listed as the Successor trustee, my bother is listed as the Durable Power of Attorney for property management of my father's estate. Does one have more power than the other. Does the POA have the power to sell my dad's property or do I the successor? Thanks ahead of time - really confused. N.H.Answer: Dear N.H. - Generally speaking, you can have as much power under a power of attorney as you can as a successor trustee. As a practical matter, however, the laws of most states are better defined with respect to trustee powers and financial institutions are more accustomed to dealing with trustees. So, that sort of gives the edge to trustees. You should ask that person to give you back any copies of the original Power of Attorney, if he or she has.• You must display a copy of the Revocation of Power of Attorney to any financial institution where you Power of Attorney must have been used earlier. Also provide a copy of your Revocation of Power of Attorney to any government agency that must have recorded your previous Power of Attorney.• The Power of Attorney can be withdrawn only by the individual when, mentally sound. Reasons for withdrawing a Power of Attorney

There can be several reasons for which one may wish to withdraw the previously exerted power of attorney. Some of the reasons for withdrawal are as follows -• Purpose of POA has been fulfilled and there is no need of an agent to act on your behalf • POA is not required any longer. • Another person is been chosen by you to act as your Attorney-in-fact. You wish to replace the prior appointed attorney in fact with a new one. • You may have no trust any longer on that person whom you had earlier given the Power of Attorney. Fort Worth Criminal Lawyers, Fort Worth Criminal Defense Lawyer, Speeding Ticket Attorneys in Fort Worth