My wife's aunt just died and she was the power of attorney. We tried to get some of her money out of her bank account and the bank said that since she was dead she couldn't get any money out of the account because it becomes the banks without a will. We are curious as to whether that is true. Nowhere in the paperwork for the power of attorney does it say that it ends on her death and she is the one planning/dealing with all the things popping up after death.
Thanks in advance
Estate Planning Attorney
In most states, the state law provides that a power of attorney terminates immediately and completely upon the death of the principal.
The money in her account does not become the bank's. It is owned by her estate, unless it were to pass by beneficiary designation.