without him being present if he is not a minor? He is away for now but has an inheritance that needs to be invested and cared for?
2007-05-30 15:56:27 · 3 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
The POA (power of attorney) would be the easiest way to set this up, however you also have a couple other options. You can set this up as a Beneficary or Trustee account, upon his return you and him could go to the financial institution and change it to your liking. Good Luck!
2007-05-31 08:16:34 · answer #1 · answered by nmr1022 2 · 0⤊ 0⤋
The power of attorney is the cleanest way to handle it, but if you can not get his signature for a while, the administrator of the will may be able to open an account in his name (like a trust fund) until he can return to claim the money and re-invest it.
Have the administrator call some banks and/or credit unions to see what they would require to set up something like this. Some will be accommodating and others will send you to the door.
Good Luck!
2007-05-30 16:52:51 · answer #2 · answered by JJ 5 · 0⤊ 0⤋
If the money is in an account in his name only, you would need a power of attorney signed by your brother to access the funds. A limited power of attorney is easy to do, contrary to what the name implies, you do not need a lawyer, just a notary (for when he signs it).
2007-05-30 16:02:55 · answer #3 · answered by Brian G 6 · 0⤊ 0⤋