Q: Daughter in jail. Have her federal tax refund. Getting POA. Can I deposit the check into an new account to use for her?
She is in Florida jail and I live in OHIO . The account would be in my name and used for her.
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A:
If you are obtaining a Power of Attorney (POA) to manage your daughter's financial matters while she is incarcerated, it's crucial to understand its scope and limitations. The POA should specifically allow you to handle her tax matters and bank accounts. Ensure that the document is drafted according to legal standards and clearly states that you have the authority to open and manage accounts on her behalf.
Once the POA is in place, you can typically use it to deposit her federal tax refund into a new account. This account should be opened in her name, with you listed as the representative or agent under the POA. It's important to keep all records and transactions separate from your personal finances to avoid any potential legal issues or misunderstandings.
Before proceeding, it's advisable to consult with a legal professional or contact the bank to understand their specific requirements for opening an account under a POA. They will guide you on the proper steps and documentation needed. Additionally, ensure that all actions taken with the account are for her benefit and within the legal boundaries of the POA. Remember, transparency and compliance with legal standards are key when managing someone else's funds.
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