Limited or Unlimited Gifts Granted in Power of Attorney

The son of decedent, who was an agent under power of attorney and became executor of his mom’s estate, closed “payable on death” bank account while agent and distributed the money to two of the decedent’s three children and his son; the Court concluded that the document’s language lacked specificity to allow unlimited giving under power of attorney, ordering the money returned to the estate and distributed in accordance with the “payable on death” provision of the bank account.  Coury Estate, 4 Fid. Rep. 3d 436 (OC Carbon 2014) (Opinion by Matika, J.)

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