Durable Power of Attorney in Texas

[orfindel]

I'm not a lawyer, but after several failed attempts to use my Durable Power of Attorney I've come to realize a few things:

1) There is no statute in Texas that requires a financial institution to accept a validly executed Durable Power of Attorney
2) There is no statute in Texas that penalizes a financial institution for failing to accept a validly executed Durable Power of Attorney
3) Most financial institutions lean on the side of caution, limit liability, and do not accept a Durable Power of Attorney
4) If your attorney said having one was prudent, he/she wasn't being very honest
5) Save your time, energy and money

 

[quincy]

I'm not a lawyer, but after several failed attempts to use my Durable Power of Attorney I've come to realize a few things:

1) There is no statute in Texas that requires a financial institution to accept a validly executed Durable Power of Attorney
2) There is no statute in Texas that penalizes a financial institution for failing to accept a validly executed Durable Power of Attorney
3) Most financial institutions lean on the side of caution, limit liability, and do not accept a Durable Power of Attorney
4) If your attorney said having one was prudent, he/she wasn't being very honest
5) Save your time, energy and money

Did you have a legal question, orfindel?

For general information, here is a link to the Texas Estates Code, Chapter 752, Statutory Durable Power of Attorney:
http://www.statutes.legis.state.tx.us/Docs/ES/htm/ES.752.htm

And here is a link to the Texas Durable Power of Attorney Act: http://law.justia.com/codes/texas/2005/pb/000.00.xii.00.html