What is my sister in law liable for as the attorney in fact for my mother in law?
Full Question:
My sister in law is an agent for my mother in law. What is she liable for financially and can she risign at any time? Who takes over if the principal is not capable?
05/15/2007 |
Category: Power of Attorney |
State: Minnesota |
#4803
Answer:
The attorney-in-fact is personally liable to any person, including the principal, who is injured by an action taken by the attorney-in-fact in bad faith under the power of attorney or by the attorney-in-fact's failure to act when the attorney-in-fact has a duty to act. She may resign at any time by giving the principal a notarized letter stating that she is "unwilling to serve" as attorney-in-fact. If no successor is named in the power of attorney, a new one will need to be created.
