Does a bank have the authority to let a principal revoke a DPOA after it has been accepted. This was done after a letter was given that my father was no longer capable. Now, guardianship has to be obtained for his fiances.
I think your question is better phrased as "Does a principal have the authority to revoke their DPOA?"
Who wrote the letter that was presented to the bank? My understanding was that in some states, DPOAs require a judge to declare a party incapacitated before going into effect.
Sounds like the problem is that the principal is in disagreement and its likely that your only solution will be having a judge decide.
I think that some people see DPOAs as declaring who they want to have in charge when they become incapacitated - instead of having a judge decide their guardian. That way there is no arguing about who- just leaves "when" to be determined.
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Pete names Mary DPOA. The bank is notified, and allows Mary to handle banking for Pete.
The bank gets letter saying Pete is "not capable."
Pete notifies the bank that Mary's DPOA is revoked. The bank no longer allows Mary to handle Pete's banking.
If that is the situation, I have the same question as OncehatedDIL. Who sent the bank the "not capable" letter?
The bank needs to act based on official, legal documents.
Who wrote the letter that was presented to the bank? My understanding was that in some states, DPOAs require a judge to declare a party incapacitated before going into effect.
Sounds like the problem is that the principal is in disagreement and its likely that your only solution will be having a judge decide.
I think that some people see DPOAs as declaring who they want to have in charge when they become incapacitated - instead of having a judge decide their guardian. That way there is no arguing about who- just leaves "when" to be determined.
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