Bank of America Liable for Failing to Honor Power of Attorney

Bank of America Liable for Failing to Honor Power of Attorney

North Carolina Estate Planning Blog:  A man sued Bank of America because it refused to honor his father’s power of attorney.  The man won damages of almost $65,000.  Three weeks before the man’s father died, the son tried to transfer funds in his father’s B of A account to a new account that only the father and son could access.  The father’s account was held jointly with a woman he knew at his retirement home.  The bank refused to transfer the funds to the new account because it was against company policy.  When the father died three weeks later, the woman took all the money.  The jury struggled 15 minutes to reach its verdict.

By |2017-10-07T11:11:19+00:00November 23rd, 2009|

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