Legal Question in Wills and Trusts in New Jersey

Re: Durabel Power of Attorney

This will depend on the specific powers granted in the Power of Attorney itself. If the POA authorizes the attorney-in-fact to make gifts, then arguably changing the account beneficiary may be a proper excercise of the power.

However, because an attorney-in-fact is held to a very high fiduciary standard of conduct, the transaction will be subject to claims of misuse of funds and/or self/dealing. It is possible that the transaction could be voided and the attorney-in-fact held accountable to return the property and to make good on any loss.