Full question:
My sister in law is an agent for my mother in law. What is she liable for financially and can she risign at any time? Who takes over if the principal is not capable?
- Category: Power of Attorney
- Date:
- State: Minnesota
Answer:
The attorney-in-fact is financially liable for any harm caused by actions taken in bad faith or by failing to act when they have a duty to do so. They can resign at any time by providing the principal with a notarized letter stating they are "unwilling to serve". If no successor is named in the power of attorney, a new document will need to be created.
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