Power of attorney abuse: What can you do about it?

Description

Abstract: A financial power of attorney — sometimes called a “power of attorney for property” or a “general power of attorney” — can be a valuable planning tool. But it’s susceptible to abuse by scam artists, dishonest caretakers or greedy relatives. A broadly written power of attorney gives an agent unfettered access to the principal’s bank and brokerage accounts, real estate, and other assets. This article explains how to look out for the interests of loved ones and lists steps that can prevent abuse.