Cabot, AR asked in Estate Planning for Arkansas

Q: Is it legal for an agent of a poa to transfer the principals real estate or personal property into his or her own name.

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1 Lawyer Answer
Theodore David Vicknair Sr.
Theodore David Vicknair Sr.
  • Estate Planning Lawyer
  • Mandeville, LA

A: I think this will depend on two things. First, whether the law of your state (Arkansas) permits this in certain cases, and Second, whether the POA specifically permits this.

In my state of Louisiana, it specifically states that "self-serving gifts" must be specifically allowed pursuant to the POA. Also, one can make an argument that even with a "self-serving gifts" clause, that a gift to the powerholder only, without a similar ratable gift to the other heirs/children, would still violate the powerholder's fiduciary duty.

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