David1961
Thinks s/he gets paid by the post
- Joined
- Jul 26, 2007
- Messages
- 1,085
I have a question about Power Of Attorney (POA), and was hoping someone who has experienced this can help.
I recently became the POA for each of my parents, going through a lawyer and the whole nine yards. It’s called a General Power Of Attorney. I’m now trying to get permission to move my parents’ investments around, or redeem them, if need be. I assumed that the POA route was the simplest way to do this. So far, I have contacted two mutual fund companies and told them I was POA and wanted to have all the permissions I need to access their account. In both cases, they told me the POA is not acceptable and that I need to submit Agent Authorization Forms (signed by my parents) and a notarized certification of the POA. This can all be done, but isn’t this what the POA is for? Why do I have to provide a notarized certification for a document that already has a Notary Seal? What can I do to avoid running through hoops for each investment company they deal with? Would it be worth modifying the POA?
I recently became the POA for each of my parents, going through a lawyer and the whole nine yards. It’s called a General Power Of Attorney. I’m now trying to get permission to move my parents’ investments around, or redeem them, if need be. I assumed that the POA route was the simplest way to do this. So far, I have contacted two mutual fund companies and told them I was POA and wanted to have all the permissions I need to access their account. In both cases, they told me the POA is not acceptable and that I need to submit Agent Authorization Forms (signed by my parents) and a notarized certification of the POA. This can all be done, but isn’t this what the POA is for? Why do I have to provide a notarized certification for a document that already has a Notary Seal? What can I do to avoid running through hoops for each investment company they deal with? Would it be worth modifying the POA?