Q: Can someone presently be the nominee of a dead person? Do you turn into a nominee of their estate?
If someone is the nominee of a person when he/she is alive, does that person remain a nominee if the other individual dies or does that person become the owner of the dead person's property?
A: If you are referring to the agent under a power of attorney, then the answer is no, the power of attorney automatically terminates upon the death of the principal. Also, agents under powers of attorney do not automatically inherit. Inheritance is determined by the decedent's will or, if the decedent did not have a will, then by the state's laws of intestate succession.
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