Handling financial matters in today’s life is quite a difficult task and that too when the person is not able to look after their properties, bills, and other matters. If this is so hard, think about how people who are incapacitated can deal with these types of difficulties.
Hence the power of attorney comes to rescue in such situations but when we hear such a word one question that arises in our mind is whether does power of attorney override executor?
We all know that the power of attorney is one of the most appointed agents to be helpful in such situations but does the power of attorney override the executor of a will or does the executor of a will have power of attorney?
There are so many questions that arise when we think of appointing a power of attorney these days. The properties or any financial matters are very important for the grantor and one does not wish to handover to anyone without prior research.
Hence, in this article, we have managed to answer all the questions that may come to your mind such as does the executor of a will have power of attorney? or can executor and power of attorney be the same person?.
We are here to explain this. Then, why wait? Let’s move along.
What is the power of attorney and executor?
When a person is unable to make decisions at a certain age or in difficult situations then he/she can appoint a power of attorney where all the rights of the grantor shall be transferred to the person for a temporary period to handle all the transactions and works of the grantor.
When the person is dead their properties, bills, taxes, and so on are left unattended and thus court appoints an executor to take care of all the properties belonging to the principal and settle it once and for all. An Executor’s work is to complete all the pending tasks of a dead person which is opposite to a power of attorney.
Does Power Of Attorney Override Executor?
Both the roles, power of attorney and executor are of different responsibilities, and nowhere do these two meet when it comes to the power of attorney override executor. Power of attorney is appointed to take care of the principal interests such as their financial matters or bills and properties when the grantor is alive.
However, he cannot make the decisions because of health problems or due to an important trip. Here, the power of attorney is appointed by the owner who can cancel the agreement whenever they feel it is void or when the term has ended.
Wherein, executors of the will are appointed by the court to settle all the dues or file a final income tax, pay the bills, and work as per the will written by the dead person. The executor comes into the picture after the death of the principal and not before that.
Frequently Asked Questions:
#1 Can executor and power of attorney be the same?
Yes, absolutely. In many cases, people often choose their children or their spouse to be their power of attorney which they can help them on their last day. They may also be their executors after their death to settle all the pending bills and file income tax one last time and also take decisions about their properties as per their will.
#2 Can power of attorney override a will?
When the person is appointed as a power of attorney they are only given the permission or mentioned in the agreement to look after their properties and financial matters in the principal’s absence or when they are unable to make any decisions. But doesn’t give the right to the power of attorney to change the will and that power lies with the grantor only and no one else.
#3 Can a power of attorney sell the property after the grantor’s death?
The answer is No. The power of attorney can only carry on his/her duties as per the terms mentioned in the agreement and until the grantor is alive. Once the grantor is dead the agreement remains void and power of attorney shall have no powers to sell or buy any properties from the second the grantor is dead.
- Can a Power of Attorney transfer money to themselves?
- When Does A Power Of Attorney Expire?
- Can a Power of Attorney Change a Will?
- Can Power Of Attorney Stop Visitors?
- Is Power of Attorney Responsible for Nursing Home Bills?
- Who Can Override a Power of Attorney?
While making decisions on financial matters the principal has to make sure to hand over the rights to a trusted person and also he/she must have basic knowledge of the power of attorney and executor. We hope that our readers now know the answer to do the power of attorney override executor and also can executor and power of attorney be the same.