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Dealing with an online brokerage. They refuse to recognize financial power of attorney forms that have been done through a lawyer and notarized. They say "we have our own form" How have others gotten around this non-sense.
the whole point of getting a financial power of attorney is not to have to go through signatures and witnesses for every event

It is illegal to ignore a financial POA well written, and of course if your father has passed into dementia since signing his it is now too late to do another. AFraid online brokerages are the WORST and I caution everyone to get out of them. Meanwhile a lawyer letter may be the only recourse.
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Reply to AlvaDeer
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Unfortunately this is how some of them are. They refuse to accept the general power of attorney and want their own form filled out. I hear Social Security also won’t accept FPOA.

I know at least one FPOA who fought with one of the major brokerage houses for many months. They refused to accept her general power of attorney (Which was signed when he had capacity) but far worse would never offer an alternative path even though the principal had moved on into memory care and couldn’t even remember where he was. The FPOA told them this multiple times but they still insisted on the forms signed by him—-which in my view is unethical since I think he didn’t and couldn’t understand them.

They are terrified of being tricked to the point of being cowardly I guess. Unfortunately, it appears they can do this.
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Reply to Rumbletown
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We use a brokerage that has an actual office that we can walk into if there is any problem. We didn't need to deal with Financial Power of Attorney as our account is part of a Revocable Trust that our Elder Law Attorney had set-up.
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Reply to freqflyer
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