🇺🇸 USA – Lasting Power of Attorney Case: Matter of Ferrara (New York Court of Appeals, 2007)

An attorney-in-fact (agent) under a Durable Power of Attorney transferred the principal’s assets to himself and family members. The principal later challenged the transfers, claiming breach of fiduciary duty.

The court ruled that agents must act in the best interest of the principal, and any self-dealing must be explicitly authorized. The transfers were reversed, and the agent was held liable.

A Power of Attorney is not a license to enrich oneself—fiduciary duty and transparency are critical.