Legal Question in Banking Law in Michigan

Is it illegal to be listed as both power of atty and beneficiary on bank accounts?

Asked on 4/15/10, 4:12 am

1 Answer from Attorneys

Francois Nabwangu Wright Cantrell PLLC

It depends on the context, in and of itself, nothing unlawful about it. But! Could give rise to many implicit duties, good faith, fair dealing etc... Also hard to say without looking at account agreements and POA. Please call us for a free consultation 877 887 9562

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Answered on 4/20/10, 5:52 am

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