How to Cash Bonds With a Power of Attorney

By Teo Spengler

If you are the agent under a financial power of attorney, the person who drew up the document appointed you to act for her in financial matters, including managing her portfolio and paying her debts. Bonds are one of the building blocks used to construct a balanced investment portfolio. To cash your principal's bonds, you'll need proof of your authority to act as her agent.

If you are the agent under a financial power of attorney, the person who drew up the document appointed you to act for her in financial matters, including managing her portfolio and paying her debts. Bonds are one of the building blocks used to construct a balanced investment portfolio. To cash your principal's bonds, you'll need proof of your authority to act as her agent.

Financial POA

A power of attorney, termed a POA, is a legal document. The person drawing up the POA, the principal, names an agent to make her financial decisions for her. The agent under the POA owes the principal a very high duty of care to act at all times in her best interests and not to benefit himself at her expense.

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Authority to Cash Bonds

Savings bonds and other government and corporate bonds are often included in a balanced investment portfolio. An agent under a POA has the legal authority to cash in the principal's bonds if doing so is in her best interests.

Cashing In Bonds

You can cash paper savings bonds at many banks like you would cash a check. Bring identification and the POA documents proving your authority to redeem the bonds. For bonds held in an investment account, establish your POA authority with the investment company by providing the requisite documents, then redeem the bonds in the principal's investment account in person, online or by phone.

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Can I Refinance With Power of Attorney?

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Selling Property & Limited Power of Attorney

Generally, a power of attorney document gives authority to another person, known as your agent or attorney-in-fact, to conduct transactions or make decisions on your behalf. This type of document may be helpful if, for example, you cannot attend a real estate closing. You can draft a power of attorney giving a wide range of powers to your agent, or a more limited power of attorney, giving your agent specific powers for only certain transactions. Either type of POA can give your agent power to sell property on your behalf.

How Can I Prove My Uncle Is Misusing His Power of Attorney?

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A power of attorney, or POA, grants an individual (“agent”) the legal authority to make decisions on behalf of another individual (“principal”). The decision can involve legal, financial or health matters. The power of attorney may be limited in scope; it may also be more general, allowing the agent a wide range of legal powers. A durable power of attorney refers to the agent’s authority when the principal is incapacitated.

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