Texas has a criminal statute that makes it a felony offense to misapply fiduciary property. Many of the cases dealing with the criminal aspect of misapplication of fiduciary property deal with persons who have powers of attorney over a relative. Using the power of attorney, they essentially convert the relative’s money into their own. Occasionally, [...]
Archive of posts tagged Power of Attorney
Can someone with a power of attorney create a trust for his principal?
The principal is the person who gives the power of attorney. The agent or attorney-in-fact is the person to whom the power is given. Once he has a power of attorney, can the attorney-in-fact create a trust for the principal? In Texas, the answer is no, he cannot. The law dealing with trust requires that, [...]
Are all Powers of Attorney the same?
The short answer is no. A power of attorney can grant a general power or a special power. It can be a durable power of attorney or not. You can also have a power of attorney solely for medical decisions. What do all of these terms mean? A power of attorney is granted by one [...]
