500 Viking Drive, Suite 202, Virginia Beach, VA 23452
(757) 490-3500

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Many of our clients have their children listed as a joint owner on their bank account so that they can help them with bills and financial decisions. Often, we are asked if this means that Dad doesn’t need a power of attorney. However, having a durable power of attorney in this situation would still make a lot of sense. Having your name on your father’s bank account is great because it permits you to pay his bills; however, it doesn’t permit you to sign legal documents on your father’s behalf or to take other financial steps as necessary. For instance, being named as beneficiary on your father’s life insurance and annuities means that you will receive them upon his death, but it doesn’t permit you to alter any investments or to withdraw funds your father may need from the annuities or the cash value of the life insurance policies. A durable power of attorney should permit you to take those steps if necessary. In order to set up this important document, call Alperin Law today.

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Alperin Law

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500 Viking Drive, Suite 202,
Virginia Beach, VA 23452

11815 Fountain Way, Suite 300,
Newport News, VA 23606

PHONE: (757) 490-3500
FAX: (757) 233-3600

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