Video Summary
Can a bank refuse to honor a power of attorney? The answer is yes, they can. They need to advise the person who’s using the power of attorney, why they reject it in order to give the person who is attempting to use it in behalf of a principal to take care of business for someone, and then you can address the bank’s concern. And then if they still refuse to do that, they have some liability, as far as their refusal to allow the agent to act, if the power of attorney is properly execute, it is a real practical problem and that who wants to litigate with a bank on trying to take care of someone’s business for them. And so you need to continue to work with the bank. Some banks are easier to work with and others, my experience has been, they send it off to legal. They don’t even let me talk to you as a lawyer for someone talked to the legal department and it is somewhat frustrating, but yes, they can. The statute provides a must. Let you know why the power of attorney is deficient and they’re not, they’re not having you, not recognizing them. So, if you hand me questions or our guests, I can listen to your frustrations. Call me at (727) 847-2288.