I have a durable power of attorney document for my uncle. He has a check he needs cashing. How do I go about cashing his check for him? Do I have to open an account for him or can I just ask the lawyers at the bank to review my document and open an account for me?
What should I ask for them to do? I don't want to sound silly.
Estate Planning Attorney
It somewhat depends on the size of the check.
For example-if it is less than $100 and needed for
immediate care-you could sign as DPOA for him and probably cash it
with proper ID and copy of the document.
If it is a much larger check-the proper plan would probably be to set up
a bank account in his name with you having DPOA over the account and expend the money for his benefit as needed.
The answer given does not imply that an attorney-client relationship has been established and your best course of action is to have legal representation in this matter.
3 lawyers agree
Real Estate Attorney
Go to his bank, endorse the check by signing the back of the check "his name by your name, his agent" or "his attorney in fact" and bring the power of attorney with you. The bank should have no problem cashing it unless it is for a large amount, in which case you may need to deposit it first and wait for it to clear.
This e-mail may contain confidential or privileged information. If you are not the intended recipient, please notify the sender immediately by return e-mail and delete this e-mail and all copies and attachments. If you are not the intended recipient, or the employee or agent responsible for delivering the message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. IRS Circular 230 Notice: Unless specifically stated otherwise, any tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. Unless specifically stated otherwise, this communication shall not be deemed to be legal or tax advice, and no attorney-client relationship shall be deemed to have been created.
4 lawyers agree
Estate Planning Attorney
I agree with the other counsel. If the check is small in amount the bank will probably allow you to cash it if you produce the durable power of attorney and you endorse the check by signing the back of the check "his name by your name, his agent" or "his attorney in fact". They will ask you for your identification as well. If it is a larger check then the bank will ask you to deposit it in a bank account in his name. You will then have power of attorney on the account and be able to spend the funds on his behalf.
2 lawyers agree