MarketWatch publishes an article similar to this every few years, but it's one of those lessons that can never be repeated enough.
Summary: Well-meaning financial planners and legal professionals insist on clients’ having valid state legal documents, including a financial power of attorney (POA). But those legal documents — signed, witnessed and paid for — are being rejected by financial-services companies, whose compliance departments want their own version of a POA to protect their interests. This is true despite the fact that the Uniformed Power of Attorney Act was adopted in 2016 in the Uniformed Probate Code (UPC) of the U.S.
URL: https://www.marketwatch.com/story/yo...st-11630687394