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Started By
Message
POA for a super broke deceased relative. Need advice.
Posted on 9/29/18 at 7:23 pm
Posted on 9/29/18 at 7:23 pm
Mobile home that is way beyond upside down. Negative value to a bank. It will also need to be removed from a rented lot, which costs a few grand. It’s worthless along with everything in it. Also a bad lease on a vehicle that will need to be ended. I am not legally responsible for any expenses, and I don’t want to pull a nickel out of my own pocket. Small insurance policy (very small) to cover burial, etc. I don’t even want to pay a lawyer. Anyone ever dealt with something like this? Bad situation but I’m responsible for settling affairs and I’m not sure what to do.
8
Posted on 9/29/18 at 7:49 pm to Nature Boy
Why are you responsible?
Posted on 9/29/18 at 8:46 pm to Nature Boy
Sounds like there is nothing to deal with. Just let the debt holders figure it out.
Posted on 9/29/18 at 9:12 pm to Nature Boy
Bury him and walk away.
Posted on 9/29/18 at 9:54 pm to iAmBatman
quote:
Why are you responsible?
Power of attorney. Only one with ability to handle bank account, finances, etc
Posted on 9/29/18 at 10:07 pm to Nature Boy
If you paid the debts, would there be any money left over?
Posted on 9/29/18 at 10:42 pm to Nature Boy
Walk away. That's the legal advice I received in similar situation. Best decision ever!
Posted on 9/29/18 at 11:21 pm to Nature Boy
In Louisiana, the POA is null and void when the principal dies.
Just leave this to the bank to figure out.
Just leave this to the bank to figure out.
Posted on 9/30/18 at 5:06 am to Nature Boy
You don't have POA anymore, that ended on your relative's death. At any rate, you have no financial liability here. Have him/her buried using the insurance funds and let the banks figure it out.
Plenty of people die broke AF, there are laws dictating how everything is handled.
Plenty of people die broke AF, there are laws dictating how everything is handled.
Posted on 9/30/18 at 9:25 am to Nature Boy
POA in Louisiana expires with the person. This is an (presumably) intestate succession now, likely an insolvent one. Are there any heirs?
If you're not an heir, I would walk away. The Christian thing is to advise all the property holders of the current status and put the landlord in contact with the bank holding the note on the trailer, etc.
The vehicle is easy - just ask them where they want it.
You're just being a nice guy at this point.
If you're not an heir, I would walk away. The Christian thing is to advise all the property holders of the current status and put the landlord in contact with the bank holding the note on the trailer, etc.
The vehicle is easy - just ask them where they want it.
You're just being a nice guy at this point.
Posted on 9/30/18 at 10:36 am to Nature Boy
POA is void at principal death
Posted on 9/30/18 at 10:37 am to Ace Midnight
Agree with everything being said here. Tie everything to his “estate”. Inform bank and other creditors. Wash your hands and move on.
Posted on 9/30/18 at 2:32 pm to Nature Boy
quote:Power of Attorney dies along with the grantor of the POA.
Why are you responsible?
Power of attorney.
ETA: Silly me. I should have read the entire thread before replying. So, what THEY said.....
This post was edited on 9/30/18 at 2:34 pm
Posted on 9/30/18 at 4:48 pm to Ace Midnight
quote:
POA in Louisiana expires with the person. This is an (presumably) intestate succession now, likely an insolvent one. Are there any heirs? If you're not an heir, I would walk away. The Christian thing is to advise all the property holders of the current status and put the landlord in contact with the bank holding the note on the trailer, etc.
All great insights from everyone. Very helpful, thanks. As for heirs, I’m not even sure yet if there is a will. If there is, there are no assets, only debts. Maybe a few hundred bucks in savings and checking accounts.
To clarify: Death is a certain eventuality, and has not occurred yet. I should have said that to start. I just want to do the right things when the time comes but protect myself at the same time.
Posted on 9/30/18 at 4:50 pm to ItzMe1972
quote:
If you paid the debts, would there be any money left over?
No. Insurance and the few bucks in the bank will barely cover burial and finger sandwiches.
This post was edited on 9/30/18 at 4:51 pm
Posted on 9/30/18 at 4:53 pm to crazycubes
If the person is expiring within days or hours, should I rush to the bank and withdraw any remaining assets while POA is in effect? Or if I do this after expiration, is it technically stealing? I don’t want to get myself in trouble over a few hundred bucks, but that money will help with expenses for sure.
Posted on 9/30/18 at 5:23 pm to tigeralum06
quote:
Just let the debt holders figure it out.
Yep. Take anything of value for the family, and walk away.
Posted on 9/30/18 at 8:29 pm to Nature Boy
Nevermind.
This post was edited on 9/30/18 at 8:32 pm
Posted on 9/30/18 at 11:11 pm to Nature Boy
quote:
If the person is expiring within days or hours, should I rush to the bank and withdraw any remaining assets while POA is in effect? Or if I do this after expiration, is it technically stealing? I don’t want to get myself in trouble over a few hundred bucks, but that money will help with expenses for sure.
Is there a payable on death provision on the bank account?
Morally, if you are using the money for his/her final expenses, I don't see an issue. Legally, I don't see any either, as long as it is properly accounted for, but I'll let the lawyers answer that one.
As part of the death process, death certificates will be issued. Get a few copies. Spend an hour one morning calling the debtholders and informing them of his/her death and ask for an address to send copy of death cert.
When poor people die, sometimes people and companies are not repaid what they are owed. It is a cost of doing business.
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