Question

A nephew has been given a durable power of attorney over his uncle's brokerage account. Upon the death of the uncle, the power of attorney:________.

Answer 1

Answer:

B. is terminated

Explanation:

These are options for the question

A. remains in force

B. is terminated

C. transfers to the executor of the uncle's estate

D. transfers to the registered representative servicing the uncle's account

From the question, we were informed about that a nephew has been given a durable power of attorney over his uncle's brokerage account.

Then in the case of the death of the uncle, the power of attorney is terminated.

Power of attorney which is a written documents that gives legal appointment of person or organization to perform an action on behalf of another person. It could be on properties or materials. But since the uncle of that nephew is dead then it brings end to the power of the Anthony on the nephew.

It should be noted that only "Principal" can override the power of attorney.