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Category Archives: Durable Power of Attorney Form
Vicki Iovine: Girlfriends’ Guide To Parenting Your Parents: They Are So Hard To Discipline
Vicki Iovine: Girlfriends’ Guide To Parenting Your Parents: They Are So Hard To Discipline.
I only have one parent left out of two biologicals and two in-laws and I cherish her, honestly, I do. But after this week, I’m dangerously close to taking up smoking…..
What is a Medallion Signature on a Power of Attorney?
Brokerage accounts have special rules for your attorney-in-fact. If your attorney-in-fact needs to buy or sell stocks held in physical form or held in a brokerage account, your attorney-in-fact will need to add a medallion signature “guarantee” to your power of attorney form.
The Medallion Signature is a stamp provided by a financial institution guaranteeing to a transfer agent that the signature of your attorney-in-fact signature is actually his or her signature. Requests to buy or sell stocks are reviewed by someone referred to as a Transfer Agent. The Transfer Agent cannot authorize transactions requested by your attorney-in-fact without the Medallion Signature guarantee evident on the power of attorney form.
Your attorney-in-fact may need to locate a bank participating in the Medallion Signature program. The bank should be one the attorney-in-fact does business with that is willing to guarantee their signature. The bank will place the medallion stamp on the power of attorney form.