Table of Contents
- What does the POA mean on a bank account?
- How much does it cost to get power of attorney in California?
What does the POA mean on a bank account?
Power of Attorney (POA) on a bank account is a legal document that authorizes another person to act on your behalf when it comes to financial decisions. Typically, it authorizes somebody to access your bank accounts, manage them, and to make payments, deposits, and withdrawals. A POA might also be used to purchase or sell stocks or other investments, or to pay bills or taxes.
How much does it cost to get power of attorney in California?
The cost to get a power of attorney in California will vary depending on the type of POA and the complexity of the financial situation. Generally, the fees for a POA in California will range from $100 to $400. If a lawyer is involved, the cost may be even higher.
If you are setting up a POA for a bank account, the bank may require you to use their own special forms. Usually, the bank will charge a fee for its services, which can range from $25 to $50. The exact fee will depend on the type of POA and the services requested.
In addition to the fees for setting up a POA, there may also be fees for notarizing the document. Notarizing a POA means having the document legally witnessed and signed by a notary public. This will usually cost $10 to $15.
Excellent article on the consideration for changing Power of Attorney. Companies should also offer assistance in researching the costs associated with the change.
I find this article insightful, particularly in light of changing power of attorney. It’s clear it can have implications in both cost and personal circumstances.
Perhaps seeking a new power of attorney shouldn’t come at such a high cost. Ensuring someone would be capable and dependable should outweigh some of the fees associated with the process.