Power of Attorney POA – Bank of America Legal Department
Looking for Bank of America Legal Department and searching for power of attorney? Here are some tips you need to know about Bank of America Legal Department & getting Power of Attorney. POA or power of attorney simply means an important documents that states giving the power or authority of a person (agent or the attorney) to act for another individual (the principal) to make legal decisions about the principal’s property, finances, investments, assets, and even for medical care. Maybe you want other person to access your Bank of America account to file taxes, depositing money, cashing checks or selling your properties, etc. Then you must read this points to remember when submitting a power of attorney for your Bank of America account.
According to Bank of America, “Beneath certain circumstances, Bank of America permits agents to be included to the principal’s accounts (depending on the particular situation, BOA may limit the types and sizes of transactions an agent may perform).”
Executing a Power of Attorney in Bank of America
Executing a power of attorney document can allow an agent (attorney) to act on Bank of America client’s behalf in financial matters such as
- filing taxes,
- selling property,
- refinancing a mortgage and
- depositing or cashing checks.
Bank of America Power of Attorney Options
A Bank of America client can discuss his (POA) power of attorney options with Bank of America during an appointment at his local financial center (if client a Merrill Lynch or Private Bank client and have questions regarding POA and his accounts, he may contact or reach Advisor for assistance).
Bank of America Legal Department
Bank of America Legal Department comprised of lawyers, paralegals, and support staff found across the globe that manage the bank’s lawful issues and legitimate risks.
Bank of America Legal Department provides professional legal services for Bank of America and its subsidiaries by addressing legal risks, identifying opportunities for and providing advice and counsel to Bank of America business partners. The Legal Department understand the businesses they support and their ultimate customer, shareholder, and employee goals.
Image: MoneyBlogNewz – Indoor Bank of America branch | Bank of America Legal Department Power of AttorneySchedule an Appointment for Power of Attorney
Before you set an schedule for power of attorney, you must understand or let the trusted lawyer to confirm that the documents are updated and meets the requirements of state laws. Here are the checklist you need to follow;
- How to grant specific and general powers
- Language on durability
- Signatures by the principal, notary and/or witnesses
- Court filing (if applicable)
Bank of America client is required to set an appointment at his free time so he can submit his POA power of attorney document for review.
In order to add an agent to client’s Bank of America deposit account at no cost, here are some recommendations from the bank;
- Bank of America recommend that a client, as the principal (account holder), accompany the agent to a financial center and provide a fully executed, notarized power of attorney document
- A client need to provide a list of account numbers to which he want the agent to have access
- The agent must provide valid and unexpired IDs, one of which should be a government-issued photo ID like social security, driver’s license.
Bank of America recommend that a client must contact a legal advisor for guidance in obtaining and executing a (POA) power of attorney.
References: