Blog

Do I Have Any Recourse Against an Agent Appointed Pursuant to a Power of Attorney Who I Believe is Taking Advantage of My Loved One?

An agent acting under a power of attorney, also known as an “attorney-in-fact,” is a fiduciary. A fiduciary owes the highest standard of care and loyalty to the principal. As a fiduciary, the agent usually has the burden of initially demonstrating that his or her actions were in the best interests of the principal. If the agent has exceeded his or her authority or has engaged in self-dealing or misappropriation of the principal’s assets, the agent may be liable to the principal for breach of the agent’s fiduciary duties.

North Carolina law provides that any interested person can file a petition to adjudicate an individual incompetent, even if only to a limited extent, and have a guardian appointed. The process generally must be completed within approximately thirty (30) days from the filing of the petition. A guardian is endowed with certain statutory powers and is generally responsible for managing the ward’s finances under the supervision of the Clerk of Superior Court. A guardian may, and usually does, revoke any power of attorneys upon his or her appointment. Accordingly, a guardianship is often an effective means to protect both the person and estate of an incompetent adult.

About the Author

Stephen Brown focuses his practice on business formation and structuring, wealth transfer planning, and litigation involving fiduciaries, trusts, estates and guardianships. If you have questions regarding whether or not to open a probate estate, please contact Stephen at 919-861-5508 or sab@youngmoorelaw.com.

 

Electronic mail or other oral or written communication to Young Moore and Henderson P.A. in connection with a matter for which we do not already represent you may not be treated as privileged or confidential. Communications are not privileged until the client and lawyer have agreed on legal representation. Please do not send confidential information to us via e-mail or in any other manner without first communicating directly with us about the attorney-client relationship. The transmission of an e-mail request for information does not create an attorney-client relationship. Your initial email should only contain a list of the parties interested in the matter so that we can make sure we have no conflicts before you convey any information about your case.

Accept Decline