Can a parent be a guardian?

Can a parent be a guardian?

Generally, guardians fulfill the role of a parent for a child who is not their own. However, in situations where a child has significant medical needs or the child has financial assets, the child’s parent may obtain a guardianship over the child or the child’s estate.

Is there a difference between guardian and legal guardian?

Custody is different than guardianship largely because a guardian can make physical and legal decisions for the child. In many ways, a legal guardianship is like an adoption, except that in a legal guardianship, the child’s biological parents are still legally considered the child’s parents.

Do I need both a power of attorney and an executor?

One person can serve as both your agent and the executor of your will. This is not uncommon, especially if you’ve chosen a child or other trusted relative for the roles. The two roles won’t overlap. Power of attorney is only effective while you’re alive and executors only assume responsibilities once you pass away.

Are you liable if you are power of attorney?

Keep in mind that a person acting as an attorney-in-fact can be personally liable for a principal’s debts if the attorney-in-fact has agreed to create that obligation in another legal capacity. Overall, an attorney-in-fact is not liable for any debts that the principal has.

Can I sell a property if I have power of attorney?

Is property sale through power of attorney legal? In 2011, the Supreme Court ruled that property sale through power of attorney (PoA) is illegal and only registered sale deeds provide any legal holding to property transactions.

Can creditors go after power of attorney?

While you aren’t financial liable, as the attorney-in-fact, you’re still the point of contact for the principal’s debts. Creditors have a right to attempt to collect the funds that are owed.

Do you get paid to be a power of attorney?

Getting paid? The power of attorney or state law may say that you can be paid for acting as agent. If you will be paid, be sure you charge a reasonable fee. It is up to you to keep detailed records as you go along of what work you did, how much time it took, when you did it, and why you did it.

Can a POA have a debit card?

If you sign a general power of attorney form without including any limitations, you give your agent authority to take any financial action on your behalf that you could take yourself, including obtaining a debit card.

Can a POA deposit a check to themselves?

Under many powers of attorney, the agent can cash and deposit checks just by showing the document to the bank. Make sure to bring your POA document with you to the bank at all times.

Can a POA open a credit card?

California Probate Code Section 4455 states that a POA granting banking authority allows the agent to open accounts, withdraw money, and apply for and receive a credit card.