can the poa legally use money in bank account for their use?
Total Comments: 1
Posted: Thu Jan 06, 2011 08:34 pm Post Subject:
Without specifics as to what kind of POA and other information, the general answer to your general question would be "NO." A trustee cannot use funds for their own use in just about every circumstance. There are commonly conditions laid out that will allow certain $$$ to be paid to the trustee, usually for any trustee out-of-pocket costs and perhaps a small stipend, but that's typically about it.
Posted: Thu Jan 06, 2011 08:34 pm Post Subject:
Without specifics as to what kind of POA and other information, the general answer to your general question would be "NO." A trustee cannot use funds for their own use in just about every circumstance. There are commonly conditions laid out that will allow certain $$$ to be paid to the trustee, usually for any trustee out-of-pocket costs and perhaps a small stipend, but that's typically about it.
More info, please.
InsTeacher 8)
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