power of attorney signature

[Zorro1k]

Plan admin has documents identifying husband of participant as POA. Husband submits notarized application for benefit. He signs "her name by his name" but doesn't indicate "POA" or "attorney in fact." Is it OK to accept this notarized signature and process the application for benefits?

[hr for me]

Kind of off topic, but when I was a (financial) POA for my husband during a home refinancing while he was overseas on business, the law office/mortgage company had to call and make sure he was alive at the time of signing because once you pass away the POA we had goes away. Yes, they had to try to call him in Japan at the very time of refinancing. (I don't suggest this to anyone...signing each document 3 times is not fun)

I'd be curious as to what type of POA it was. Did plan admin verify with her at any point that the POA was valld? Are you sure the POA is still valid at this time? A notary signature is only verifying that the signature on whatever form matches back to some ID provided NOT that the POA itself holds any validity.

I would do a lot more research and consult legal counsel prior to issuing any benefits to the POA.

[MoJo]

Zorro: In my experience, it is always prudent to "see" the POA to verify the authority given. I wouldn't rely on the signature being "notarized" - that just confirms the identity of the signer - not the authority.

hr for me: In refinancing, since your husband was a signer of the documents, a verification of his being alive was important as he had an obligation to pay the note (as did you). One can't borrow money if they are dead (although their estate can, but that is a different story). That issue had nothing really to do with the POA (or it's validity) but rather with insuring that the obligor was alive and could pay back the borrowed money (or at least was alive at the time of signing - so they would have a claim on his estate if he later died).

POAs are strange things - and the way they are drafted can make a big difference (general or limited, indefinite or for a period of time, regular or "durable") and the specific authority given (medical, financial, etc.).

When in doubt, DEMAND the POA and consult a lawyer to see if it covers the transaction at hand.