When Can A Bank Refuse To Accept A Power Of Attorney (Part 1)

By Fredrick P. Niemann, Esq. of Hanlon Niemann & Wright, a Freehold, NJ Power of Attorney Lawyer

Nothing is more frustrating than having the bank refuse to accept a Power of Attorney especially when the holder of the power is acting on behalf of an aging or incapacitated adult, a family member, loved one or friend.  At one level it is understandable that banks are afraid of fraud and the wrongful abuse of legal documents especially as powerful as a Power of Attorney but not everybody is a crook and most people use the Powers of Attorney for the right reasons.   Often calls are made to my office when a bank, brokerage company or large institutional custodian either rejects a Power of Attorney or gives the agent a hard time.   I thought, therefore, it would be appropriate for me to summarize the law concerning Powers of Attorney.  I will address this topic further in my next post.

To discuss your NJ Power of Attorney matter, please contact Fredrick P. Niemann, Esq. toll-free at (855) 376-5291 or email him at fniemann@hnlawfirm.com.  Please ask us about our video conferencing consultations if you are unable to come to our office.