![]() Once the document is completed, it is recommended, and sometimes mandatory, to have the form(s) signed in the presence of Witness(es), a notary public, or both. Step 5 – Sign, Notarize, and Distribute Copies of the Document This step ensures that the power of attorney is legally binding and will be honored by courts and institutions, safeguarding the principal’s interests and intentions as outlined in the document. Each state may have different requirements concerning notarization, witnessing, and the language used in the document. Reviewing your state’s specific laws to ensure the document’s validity is imperative. If it’s not durable, specify when it expires.Īlso, designate alternate agents in case your first choice is unable to serve. Use an online form or hire a lawyer to draft the document outlining the powers granted to your agent.īe clear and specific about the powers you grant and understand how you can revoke the power of attorney if needed. Once you decide on the type you need, you’ll want to draft the document. Their willingness to uphold your wishes, especially during challenging times, is necessary. It’s also essential to ensure that the person is willing to take on your agent’s role. As a principal, you want to choose someone capable of handling the responsibilities of managing your affairs. The foremost consideration should be trustworthiness your agent must be someone you trust implicitly.Īlongside trust, capability is crucial. Selecting an agent for your power of attorney is a pivotal decision. Step 2 – Choose an Agent (or Attorney-in-Fact) A person purchasing a home may grant a power of attorney to someone they trust to execute closing documents if they are unable to attend the closing.A parent may grant a power of attorney to a babysitter or nanny to authorize medical treatment in case of an emergency while the child is in their care.A military service member may grant a power of attorney to a spouse or trusted family member to handle their affairs while they are deployed overseas.An elderly person may grant a power of attorney to a family member or friend to help manage their finances or make medical decisions if they are unable to do so themselves.A business owner may grant a power of attorney to a trusted employee to sign contracts or conduct financial transactions on behalf of the company when they are out of town or unavailable.Here are some real-world examples of when a power of attorney might be used: Are planning for the possibility of future incapacity or disability.Want to delegate specific responsibilities to someone, such as managing your investments or paying bills.Want to give someone the authority to make healthcare decisions on your behalf.Want to avoid court intervention in case of incapacity or disability. ![]() Want to appoint someone you trust to make important decisions for you.Want to ensure that your wishes are carried out in the event that you become incapacitated.Need someone to act on your behalf for financial or legal matters.Are unable to manage your own affairs due to illness, injury, or absence.Uniform Power of Attorney Act (UPOAA) in Section 102(7) (page 7) defines power of attorney as:’ If you become incapacitated without designating an agent, a loved one or family member may need legal guardianship from a court to help with your affairs. When completing the paperwork, the Principal will provide the essential details about the agent and what actions they may take on behalf of the principal. With a POA, an individual (the “principal“) can choose another person (the “agent” or “attorney-in-fact“) to make confident decisions on their behalf. Someone serving as a Power of Attorney has the legal authority to act for someone else in specific financial, health-related, or personal matters. Step 5 – Sign, Notarize, and Distribute Copies of the DocumentĪ Power of Attorney (POA) is a legal document that gives the authority to someone else to manage a person’s affairs.Step 2 - Choose an Agent (or Attorney-in-Fact).Step 1 - Assess Your Needs as Principal.
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