Trusts / POA

[cstinem]

What is the name of your state?
Kansas

If the POA document says "as my agent to act in my name, place and stead, and for my use and benefit as it I were personally present to accomplish the same". It further states "I specifically authorized, although not limited thereby, my above named agent to:" and then names "deeds of trust".

Does this mean I can sign or do things that involve the trust as a POA? Things such as signing titles over/and/or selling things that they want sold?

Thanks much.

 

[BlondiePB]

What is the name of your state?
Kansas

If the POA document says "as my agent to act in my name, place and stead, and for my use and benefit as it I were personally present to accomplish the same". It further states "I specifically authorized, although not limited thereby, my above named agent to:" and then names "deeds of trust".

Does this mean I can sign or do things that involve the trust as a POA? Things such as signing titles over/and/or selling things that they want sold?

Thanks much.

No. Only the trustee deals with the property in trust.

 

[seniorjudge]

What is the name of your state?
Kansas

If the POA document says "as my agent to act in my name, place and stead, and for my use and benefit as it I were personally present to accomplish the same". It further states "I specifically authorized, although not limited thereby, my above named agent to:" and then names "deeds of trust".

Does this mean I can sign or do things that involve the trust as a POA? Things such as signing titles over/and/or selling things that they want sold?

Thanks much.

Q: Does this mean I can sign or do things that involve the trust as a POA? Things such as signing titles over/and/or selling things that they want sold?

A: Yes. A "deed of trust" is a mortgage and this language means you can sign a mortgage for real estate owned by the person who gave you the POA.

Your POA is NOT from the trustee (I am assuming) so therefore you cannot do anything with property owned by the trust. You can only use the POA for property owned in the name of the person who gave you the POA.

 

[BlondiePB]

Q: Does this mean I can sign or do things that involve the trust as a POA? Things such as signing titles over/and/or selling things that they want sold?

A: Yes. A "deed of trust" is a mortgage and this language means you can sign a mortgage for real estate owned by the person who gave you the POA.

Your POA is NOT from the trustee (I am assuming) so therefore you cannot do anything with property owned by the trust. You can only use the POA for property owned in the name of the person who gave you the POA.

Judgy, I understand perfectly your reply and hope the OP does too. I read the OP's post to mean that as POA he/she had the authority to sell property in the trust and to retitle real estate.

 

[seniorjudge]

Judgy, I understand perfectly your reply and hope the OP does too. I read the OP's post to mean that as POA he/she had the authority to sell property in the trust and to retitle real estate.

You are correct; if the POA is not from the trust, then OP does not have the authority to sell property in the trust and to retitle real estate in the trust.

 

[cstinem]

Thanks Judge

"You are correct; if the POA is not from the trust, then OP does not have the authority to sell property in the trust and to retitle real estate in the trust."

Since we/they are trying to get everything in the Trust and that means land, home, vehicles, insurance, annuities, bank accounts, etc., then the POA does not have much power at all. How does one get a POA to include/or be from the Trust? Would we have to redo the Trust to have me as a Trustee? As of now I am a successor trustee.

Also, since both of you sound so knowledgable, does annuities and/or insurance polices only need to have beneficator as the trust and not as the owner right?
Thanks for your help.

 

[BlondiePB]

Since we/they are trying to get everything in the Trust and that means land, home, vehicles, insurance, annuities, bank accounts, etc., then the POA does not have much power at all.

Use POA to put the property into the trust.

How does one get a POA to include/or be from the Trust? Would we have to redo the Trust to have me as a Trustee? As of now I am a successor trustee.

It would be best to have the trust document redone by the settlor(s) making you a trustee. The settlors must be of "sound mind" to redo the trust.

Also, since both of you sound so knowledgable, does annuities and/or insurance polices only need to have beneficator as the trust and not as the owner right?

To have monies from annuities and insurance policies payable to the trust, the trust does need to be the beneficator.

Thanks for your help.

You are welcome.

 

[cstinem]

Thanks Blonde

Quote:
Since we/they are trying to get everything in the Trust and that means land, home, vehicles, insurance, annuities, bank accounts, etc., then the POA does not have much power at all.

Use POA to put the property into the trust.

Since (my father) is both Trustor and Trustee, he can and has put most of the possessions in the Trust already, so he can do that without the POA. However he wants me to be able to do the same and had thought that I could since he gave me the POA for financial matters, but it sounds like I would have to be included in the Trust as a Trustee in order for that to happen. Right?
And thanks again....

 

[BlondiePB]

cstinem,
You are confusing things. Your POA does give you the power to put property in your father's trust - just as dad wants you to have the power to do so while he is alive (POA ends upon dad's death). What you cannot do is touch the property that is in the trust - only the trustee can. Once you father, as trustee to his own trust, either ''steps down" as trustee of his trust, or becomes incapable of handling his trust or dies, then you will be the trustee and have the power to handle the property in the trust.

 

[cstinem]

Right, the issue is what can be done in order for me to be able to do things for him/them while they are alive but don't want to have to mess with. That is, they are getting older and it is more difficult for them to decide what/how to do things. With a POA, I can do anything as long as it is outside the Trust. In order for me to do things with property/savings accounts, etc. that is in the Trust is for me to be named as one of the Trustees, not just a successor Trustee, correct?

Thanks, and sorry for all this, it is all new to me and am trying to help the folks as best I can.
cstinem

 

[seniorjudge]

Right, the issue is what can be done in order for me to be able to do things for him/them while they are alive but don't want to have to mess with. That is, they are getting older and it is more difficult for them to decide what/how to do things. With a POA, I can do anything as long as it is outside the Trust. In order for me to do things with property/savings accounts, etc. that is in the Trust is for me to be named as one of the Trustees, not just a successor Trustee, correct?

Thanks, and sorry for all this, it is all new to me and am trying to help the folks as best I can.
cstinem

Q: In order for me to do things with property/savings accounts, etc. that is in the Trust is for me to be named as one of the Trustees, not just a successor Trustee, correct?

A: If the folks who originally wrote the trust are still competent, you are correct.

 

[cstinem]

OK! Thanks a bunch. They are competent, just wanting help to do all these things... Over and out......