Are Client Funds ( In A Discretionary Power Of Attorney Investment Account Held In The Account Manager's Name) Legally Distinct From His Own Funds For Purposes Of Lawsuits And Such?
Since they do not belong to the Account Manager, and he holds them as a fiduciary under a power of attorney, they cannot be attached- is this correct?
2006-10-16 04:48:55 · 2 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
well,it all depends on law of land,but generally speaking,no ,attorney can not use . but it would be better you get legal opinion from another attorney.
2006-10-16 05:02:54 · answer #1 · answered by manoj p 2 · 0⤊ 0⤋
NO way on earth. There is no guarantee that those funds would even survive let alone do well. It is too much of a gamble. While I do have investments in a retirement account and they are doing well I am still uncertain about the future of them. At least I can depend on Social Security for some money to keep me from living like a troll under a bridge.
2016-05-22 06:25:27 · answer #2 · answered by Anonymous · 0⤊ 0⤋