Do you need a durable power of attorney for a joint bank account?
Full Question:
My father-in law's mental state is beginning to deteriorate due to dementia, why would my mother-in law need durable power of attorney if their bank accounts are joint? She already has a patient advocate for health.
06/06/2007 |
Category: Power of Attorney |
State: Michigan |
#6202
Answer:
Please preview the following form:
http://www.uslegalforms.com/mi/MI-P003.htm
For example, even if they have a joint account, she doesn't have authority to endorse his checks, payable in his name only. Many other situations can be covered, such as taxes, insurance, sale of property, etc.