If a person has a durable power of attorney can the principal leave special instructions that the agents powers are to continue for 3 years after his death?
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If a person has a durable power of attorney can the principal leave special instructions that the agents powers are to continue for 3 years after his death?
My father made me the agent of his durable
power of attorney and he put special
instructions that I would continue my duties for
up to 3 years after his death so I could finish up
all our business. Is this legal? Will the bank
honor it?
Asked on December 3, 2018 under Estate Planning, Louisiana
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
No, the bank will not honor that because a power of attorney ends when the principal (the person making it) "ends"--i.e. a POA expires at death. What your father can do is have a will and in it, make you the executor of his estate: as executor, you'd have the power to continue to manage or wind-up his affairs after death.
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