elder abuse attorney nc

Many people execute power of attorneys (POA). It’s a good idea to have one in place should the need arise.

However the number one problem with POA’s is gifting by the POA agent. The POA or attorney-in-fact has a fiduciary duty to his or her principal, the person who executed the POA.

First of all, a POA in North Carolina has to contain specific language allowing the POA to gift. If it doesn’t expressly authorize the agent to make gifts to others and/or the attorney-in-fact, then the gifting isn’t authorized.

            A new law seeks to protect older and disabled adults in North Carolina from financial abuse.  Beginning on December 1, 2013, all financial institutions are encouraged, but not required, to offer disabled adult and older adult customers the opportunity to submit, and periodically update, a list of persons that the disabled adult or older adult customer would like the financial institution to contact in case of suspected financial exploitation of the disabled adult or older adult customer.