POA Powers & Safe Deposit Boxes

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Question:

Would it be safe to state that a POA should not be able to open a safe deposit box in the capacity of the POA and then add herself as a co-renter to a safe deposit box?

Answer:

This seems to be redundant. The POA already has access to the box on behalf of the renter. If the individual who is the POA wants a box for personal use on their own behalf, then a separate box should be rented for that purpose.

First published on BankersOnline.com 11/05/07