Use our Power of Attorney forms to let someone make legal and financial decisions for you.
Updated August 19, 2024
Written by Josh Sainsbury | Reviewed by Susan Chai, Esq.
Power of Attorney forms are legal documents that allow someone you trust to manage your medical or financial affairs if you cannot do so. The forms specify what actions your agent can take on your behalf and can only be legally binding if they follow your state’s requirements.
Generally, this document must be signed in the presence of witnesses and notarized. However, even if your state does not require this, it is best practice to do so. Check your state signing requirements here.
A form that provides additional clauses, and details specific areas you can grant power over in the event you can’t care for yourself (for example, if you had a stroke or fell into a coma).
A general form that allows you to give general or specific powers to an agent to make financial decisions for you, such as operating a business, buying or selling a property, accessing accounts, and handling investments.
A POA that allows a designated agent to make financial decisions on behalf of the document’s principal.
A form which allows you to give limited powers to an agent for a specific task (such as a single real estate transaction), and typically ends when the task has been completed.
A type of durable power of attorney that specifically allows an agent to make health care decisions for you if you become incapacitated. These decisions can include what treatment you receive, whether your organs are donated, and if you are kept alive on life support.
A form that allows you to delegate power of authority to a friend or family member while you're away for training, stationed at a base far from home, or deployed overseas.
A form that grants authority to an agent in matters associated with the principal’s motor vehicle.
A form that “springs” into effect in a certain situation, and ends at a time you specify.
Enables individuals or business entities to designate a representative, typically an accountant or tax attorney, to professionally prepare and submit their federal tax returns.
Cancels or nullifies a previously granted Power of Attorney, terminating the authority of the previously designated agent to act on the principal's behalf.
A Power of Attorney (POA) is a legal document that gives someone else the authority to manage a person’s affairs. Someone serving as a Power of Attorney can act for someone else in specific financial, health-related, or personal matters.
With a POA, an individual (the “principal“) can choose another person (the “agent” or “attorney-in-fact“) to make confident decisions on their behalf. 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.
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. [1]
Example:
For instance, an elderly woman named Margaret wants to ensure her financial affairs are managed if she becomes incapacitated. She appoints her daughter, Emily, as her attorney-in-fact through a POA, giving Emily the authority to manage bank accounts, pay bills, and make investment decisions on her behalf.
‘a writing or other record that grants authority to an agent to act in the place of the principal, whether or not the term power of attorney is used.”
Commonly known as the UPOAA was enacted in 2006. The UPOAA was created by the Uniform Law Commission (ULC) in response to the need for a uniform and standardized set of laws governing the creation and scope of a power of attorney.
| State | Year Enacted | Bill |
|---|---|---|
| Alabama | 2011 | SB 53 |
| Arkansas | 2011 | SB 887 |
| Colorado | 2009 | HB 09-1198 |
| Connecticut | 2016 | Public Act No. 15-240 |
| Georgia | 2018 | House Bill 897 |
| Hawaii | 2014 | SB 2229 |
| Idaho | 2008 | Title 15, Chapter 12 |
| Iowa | 2014 | S.F. 2168 |
| Kentucky | 2020 | KRS Chapter 457 |
| Maine | 2009 | Chapter 292 |
| Maryland | 2010 | SB 309 |
| Montana | 2011 | HB 0374 |
| Nebraska | 2012 | LB 1113 |
| Nevada | 2019 | NRS Chapter 162A |
| New Hampshire | 2017 | SB230 |
| New Mexico | 2011 | SB 146 |
| North Carolina | 2017 | SB 569 |
| Ohio | 2012 | Chapter 1337 |
| Oklahoma | 2021 | HB 2548 |
| Pennsylvania | 2014 | HB 1429 |
| South Carolina | 2016 | SB 778 |
| South Dakota | 2020 | SB 148 |
| Texas | 2017 | HB 1974 |
| Utah | 2016 | HB 74 |
| Virginia | 2010 | SB 569 |
| Washington | 2017 | SB 5635 |
| West Virginia | 2012 | Chapter 39B |
| Wisconsin | 2010 | Chapter 244 |
| Wyoming | 2017 | SF0105 |
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Deciding on the type of power of attorney depends on your individual needs and circumstances. Here’s how you might determine the right type:
If you want someone to manage your financial affairs even if you become mentally incapacitated, you’ll want to use a durable power of attorney. It’s useful for long-term planning.
But if you need to appoint someone to make medical decisions on your behalf, if you’re unable to do so, you’ll want to use a medical one.
Selecting an agent for your power of attorney is a pivotal decision. The foremost consideration should be trustworthiness; your agent must be someone you trust implicitly.
Alongside trust, capability is crucial. As a principal, you want to choose someone capable of handling the responsibilities of managing your affairs.
Ensuring the person is willing to take on your agent’s role is also essential. Their willingness to uphold your wishes, especially during challenging times, is necessary.
Example:
Jane is considering whom to appoint as her attorney-in-fact. She ultimately chooses her cousin, who has a strong financial background and whom she trusts implicitly, over her close friend, who lacks financial expertise. Jane also discusses her preferences and values with her cousin to ensure that her wishes are carried out as intended.
You’ll want to draft the document once you decide on the type you need. Use an online form or hire a lawyer to draft the document outlining the powers granted to your agent.
Be clear and specific about the powers you grant and understand how you can revoke the power of attorney if needed. If it’s not durable, specify when it expires.
Also, designate alternate agents in case your first choice cannot serve.
Highly Recommended: Use a fillable POA template specific to the state, which typically includes sections for identifying information, powers granted, and signatures of the grantor, agent, and witnesses.
It is imperative to review your state’s specific laws to ensure the document’s validity. Each state may have different requirements concerning notarization, witnessing, and the language used in 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.
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. Check the signing laws in your state to learn what is required for your document to be fully executed and legally valid.
The witnessing process provides a level of assurance against fraud, affirming that you are indeed signing the document. Notarization further legitimizes it, as a notary public verifies your identity and willingness to sign.
After signing and notarizing the document, distribute copies to your agent, family members, and others who may need to know about the arrangement. All parties should keep copies of the completed form, and the original should be stored somewhere safe.
➔ Keep Learning: How to Sign as POA
Once a Power of Attorney is effective, the agent can sign it and make decisions on the principal’s behalf.
To have an agent use a general Financial POA, the principal must contact the third party (such as a bank) in advance and show the original signed form (or a certified copy) and the agent’s and principal’s IDs.
Once the agent has been confirmed or added to the account, they can sign for transactions as follows:
Power of attorney
Some third parties may initially refuse the form if they’re worried about possible forgery. To proceed, the agent may need to sign an affidavit or have their lawyer contact the third party.
Suppose the principal is incapacitated and the POA is durable. In that case, the agent may need to provide additional documents from healthcare professionals that confirm the principal’s capacity before the agent can use the POA and sign on the principal’s behalf.
| STATE | DURABLE | GENERAL | MEDICAL | MINOR (CHILD) | REAL ESTATE | TAX | VEHICLE |
|---|---|---|---|---|---|---|---|
| Alabama | Notary Public | Notary Public | Two Witnesses | Notary Public | Notary Public | Principal Only | Notary Public |
| Alaska | Notary Public | Notary Public | Notary Public | Notary Public or Two Witnesses | Notary Public | Principal Only | Notary Public |
| Arizona | Notary Public and One Witness | Notary Public and One Witness | Notary Public or One Witness | Notary Public and One Witness | Notary Public and One Witness | Principal Only | Notary Public or MVD Agent |
| Arkansas | Notary Public | Notary Public | Notary Public and Two Witnesses | Notary Public | Notary Public | Principal Only | Principal Only |
| California | Notary Public or Two Witnesses | Notary Public or Two Witnesses | Notary Public or Two Witnesses | Notary Public or Two Witnesses | Notary Public or Two Witnesses | Principal Only | Principal Only |
| Colorado | Notary Public | Notary Public | Principal Only (Notary Public and Two Witnesses Recommended) | Notary Public | Notary Public | Principal Only | Notary Public |
| Connecticut | Notary Public and Two Witnesses | Notary Public and Two Witnesses | Two Witnesses | Notary Public and Two Witnesses | Notary Public and Two Witnesses | Principal Only | Notary Public and Two Witnesses |
| Delaware | Notary Public and One Witness | Notary Public and One Witness | Two Witnesses | Notary Public and One Witness | Notary Public and One Witness | N/A | Notary Public |
| District of Columbia | Notary Public | Notary Public | Two Witnesses | Notary Public | Notary Public | Principal Only | Principal and Agent |
| Florida | Notary Public and Two Witnesses | Notary Public and Two Witnesses | Two Witnesses | Notary Public and Two Witnesses | Notary Public and Two Witnesses | Principal Only | Principal Only |
| Georgia | Notary Public and One Witness | Notary Public and One Witness | Two Witnesses | Notary Public | Notary Public and One Witness | Principal Only (Notary Public and Two Witnesses in Certain Circumstances) | Notary Public |
| Hawaii | Notary Public | Notary Public | Notary Public and Two Witnesses | Notary Public | Notary Public | Principal and Representative | Notary Public |
| Idaho | Notary Public | Notary Public | Principal Only | Notary Public | Notary Public | Principal Only | Notary Public (if applying for duplicate title) |
| Illinois | Notary Public and One Witness | Notary Public and One Witness | One Witness | One Witness (Only in Certain Circumstances) | Notary Public and One Witness | Principal and Representative (Witness or Notary Public in Certain Circumstances) | Principal Only |
| Indiana | Notary Public | Notary Public | One Witness | Notary Public | Notary Public and Two Witnesses | Principal Only | Notary Public |
| Iowa | Notary Public | Notary Public | Notary Public and Two Witnesses | Notary Public | Notary Public | Principal Only | Notary Public |
| Kansas | Notary Public | Notary Public | Notary Public or Two Witnesses | Notary Public | Notary Public | Principal and Representative | Principal Only |
| Kentucky | Notary Public and Two Witnesses | Notary Public and Two Witnesses | Notary Public and Two Witnesses | Notary Public | Notary Public | Principal Only | Notary Public |
| Louisiana | Notary Public and Two Witnesses | Notary Public or Two Witnesses | Two Witnesses | Notary Public and Two Witnesses | Notary Public and Two Witnesses | Principal Only | Notary Public |
| Maine | Notary Public | Notary Public | Two Witnesses | Notary Public | Notary Public | Principal Only | Notary Public |
| Maryland | Notary Public and Two Witnesses | Notary Public and Two Witnesses | Two Witnesses | Notary Public and Two Witnesses | Notary Public and Two Witnesses | Principal Only | Principal Only |
| Massachusetts | Notary Public or Two Witnesses | Notary Public or Two Witnesses | Two Witnesses | Two Witnesses | Notary Public and Two Witnesses | Principal Only (Notary Public or Two Witnesses in Certain Circumstances) | Principal, Agent & Witness |
| Michigan | Notary Public or Two Witnesses | Notary Public or Two Witnesses | Two Witnesses | Notary Public | Notary Public or Two Witnesses | Principal Only | Principal Only |
| Minnesota | Notary Public | Notary Public | Notary Public or One Witness | Two Witnesses | Notary Public | Principal Only | Notary Public and Certified Technician |
| Mississippi | Notary Public | Notary Public | Notary Public or Two Witnesses | Notary Public | Notary Public (Recommended) | Principal Only | Notary Public |
| Missouri | Notary Public | Notary Public or Two Witnesses | Notary Public | Notary Public | Notary Public | Principal Only | Notary Public (not required if signing electronically) |
| Montana | Notary Public | Notary Public | Two Witnesses | Notary Public | Notary Public | Principal Only | Notary Public |
| Nebraska | Notary Public | Notary Public | Notary Public and Two Witnesses | Notary Public | Notary Public | Principal Only | Notary Public |
| Nevada | Notary Public | Notary Public | Notary Public or Two Witnesses | Notary Public | Notary Public | N/A | Notary Public |
| New Hampshire | Notary Public | Notary Public | Notary Public or Two Witnesses | Notary Public | Notary Public | Principal Only (Two Witnesses in Certain Circumstances) | Notary Public |
| New Jersey | Notary Public | Notary Public or Two Witnesses | Notary Public or Two Witnesses | Two Witnesses | Notary Public | Principal and Representative | Notary Public |
| New Mexico | Notary Public | Notary Public | Two Witnesses (Optional) | Notary Public | Notary Public | Principal Only | Notary Public |
| New York | Notary Public | Notary Public | Two Witnesses | Notary Public | Notary Public | Principal Only (Notary Public or Two Witnesses in Certain Circumstances) | Notary Public |
| North Carolina | Notary Public | Notary Public | Notary Public and Two Witnesses | Notary Public | Notary Public | Principal Only | Notary Public |
| North Dakota | Notary Public or Two Witnesses | Notary Public or Two Witnesses | Notary Public or Two Witnesses | Notary Public | Notary Public | Prinipal Only | Notary Public |
| Ohio | Notary Public | Notary Public | Notary Public or Two Witnesses | Notary Public | Notary Public | Principal Only | Notary Public |
| Oklahoma | Notary Public and Two Witnesses | Notary Public and Two Witnesses | Two Witnesses | Notary Public | Notary Public | Principal Only | Notary Public |
| Oregon | Notary Public or Two Witnesses | Notary Public and Two Witnesses | Notary Public and Two Witnesses | Notary Public | Notary Public | Principal Only | Principal Only |
| Pennsylvania | Notary Public and Two Witnesses | Notary Public and Two Witnesses | Two Witnesses | Notary Public and Two Witnesses | Notary Public and Two Witnesses | Principal Only | Notary Public |
| Rhode Island | Notary Public or Two Witnesses | Notary Public | Notary Public or Two Witnesses | Notary Public | Notary Public | Notary Public or Two Witnesses | Notary Public |
| South Carolina | Notary Public and Two Witnesses | Notary Public and Two Witnesses | Notary Public and Two Witnesses | Notary Public and Two Witnesses | Notary Public and Two Witnesses | Principal Only | Notary Public |
| South Dakota | Notary Public or Two Witnesses | Notary Public or Two Witnesses | Notary Public or Two Witnesses | Notary Public | Notary Public | Notary Public | Notary Public |
| Tennessee | Notary public and Two Witnesses | Notary Public and Two Witnesses | Notary Public or Two Witnesses | Notary Public | Notary Public and Two Witnesses | Principal and Representative | Notary Public |
| Texas | Notary Public | Notary Public | Notary Public or Two Witnesses | Two Witnesses | Notary Public | Principal Only | Principal Only |
| Utah | Notary Public | Notary Public | One Witness | Notary Public | Notary Public | Principal Only | Notary Public |
| Vermont | Notary Public and One Witness | Notary Public and One Witness | Two Witnesses | Parents Only | Notary Public and One Witness | Notary Public and One Witness | Notary Public and Witness |
| Virginia | Notary Public | Notary Public | Two Witnesses | Notary Public | Notary Public | Principal and Representative | Principal Only |
| Washington | Notary Public or Two Witnesses | Notary Public or Two Witnesses | Notary Public or Two Witnesses | Notary Public or Two Witnesses | Notary Public or Two Witnesses | Principal Only | Notary Public |
| West Virginia | Notary Public | Notary Public | Notary Public and Two Witnesses | Notary Public | Notary Public | Notary Public or Two Witnesses | Principal Only |
| Wisconsin | Notary Public | Notary Public | Two Witnesses | Notary Public (Witness Optional) | Notary Public | Principal Only | Notary Public and Certified Technician |
| Wyoming | Notary Public | Notary Public | Notary Public or Two Witnesses | Notary Public | Notary Public | N/A | Notary Public |
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Choosing the right agent with a Power of Attorney is the best way to avoid risk. Remember that you can select multiple agents for different tasks and assign responsibilities based on the agents’ strengths and character.
Many people choose a spouse as their agent. This can create problems for durable and medical powers of attorney if the spouse is similar to the principal, as they may also face age-related health challenges.
Naming adult children is a standard option because they will be younger, but this can create conflict when one sibling is given power of attorney and another feels they’ve been mistreated. You should never name one of your children as your agent because of fairness if you lack trust in their ability to handle your affairs.
There are no specific qualifications, but choosing someone trustworthy and capable of serving as your agent is essential. Take these points into account when making your choice:
Details are critical in a power of attorney form. Your appointed agent will have the power to make serious financial decisions on your behalf. Clear intentions, limitations, and terms for termination can protect you from legal issues down the line.
This is generally the structure of a power of attorney; however, the structure and necessary provisions vary from state to state.
Choose who you want to name as the power of attorney’s agent or attorney-in-fact. This person will handle sensitive financial matters on your behalf, so choose carefully. Select someone who understands the tasks they must manage and can be trusted to act in your best interests. Enter the name and address of your agent and co-agent, if applicable.
Consider adding a successor agent who can handle your financial matters if your primary agent is unable to do so. You may also add a secondary successor.
Appropriate agents may include:
When determining the right agent, ask yourself whether you trust the person to handle your financial matters with discretion. You should choose someone who will understand your perspective and reliably follow your wishes.
On the document, initial next to the authority or powers you want to grant your agent. This may include granting authority over any of the following:
If you wish to allow your attorney-in-fact to handle all the above matters, simply initial the last line in the section labeled “(N) All Preceding Subjects.” By initialing these general authorities, the principal grants permission for the agent to act on their behalf in related matters.
While general authority may permit an agent to manage many aspects of your financial life, you must grant special authority for certain acts. These powers can reduce your property or alter its distribution after your death. For the principal to ensure they are protected in such cases, they must specifically grant the authority to:
Before you initial one of these items, consider discussing the matter with an estate attorney or financial advisor. They can help you understand the potential risks associated with assigning these powers to an agent.
As an added level of protection, a POA form may include a clause limiting the agent’s ability to use the granted authority to benefit themselves or others associated with them. This prevents an unrelated agent from using their access and authority over your financial matters to benefit their family members or others to whom they owe an obligation of support.
Exceptions to this limitation include when the agent is the principal’s spouse, ancestor, or descendant. If your agent is permitted to use property to benefit themselves or others, note the details in the special instructions. Include as much detail as possible concerning the extent and limitations of the agent’s power in this situation.
Special instructions are optional. This is where you indicate any exceptions, limitations, or clarifications to the powers granted above. A power of attorney form is a legally binding agreement that can significantly affect financial well-being. It is in your best interest to include as much detail as possible.
Examples of special instructions include:
Select the date you want your agent to receive power of attorney and begin handling your financial affairs. Choose from the following options:
If you choose a specific event to trigger the power of attorney, such as a military deployment, clearly outline the conditions under which the agreement becomes effective.
Under a conditional or springing POA, your agent must prove the event has occurred so they can take over financial responsibilities. They could have trouble exercising their authority without sufficient detail or documentation to confirm the contingency. For instance, if the power of attorney activates because the principal leaves on deployment, the agent may need copies of the deployment orders.
Springing POAs are not allowed in all states. Check your specific state requirements regarding the types of POAs that are permitted.
If your POA becomes effective upon the principal’s incapacity, the agent will need evidence to establish that the principal is incapable of making their own decisions. This evidence typically comes as a doctor’s declaration and may require a court order.
Types of incapacity that could trigger a conditional POA include:
This is not a comprehensive list; every state has different definitions for incapacity. Check your local laws before establishing a POA to understand how the scope of incapacity can affect your agreement.
When filling out the termination section, you will need to choose between two options:
When you complete a power of attorney form as part of an estate plan, you can nominate a guardian for your person and your estate. One person can serve as a guardian for both, or you may recommend separate guardians for each purpose. The appropriate court, usually a probate court, must approve the guardian should you become incapable of caring for yourself. If appointed, the guardian(s) will have the authority to make all decisions about your person and/or property.
While a power of attorney grants an agent specific powers, those powers are typically limited to the financial and legal authority granted in the POA. The agent may act on your wishes, but you are still the primary decision-maker.
A legally appointed guardian, on the other hand, makes decisions for you, typically because you cannot handle these matters on your own. Your guardian and POA agent may work together to manage your affairs, depending on the circumstances.
If your POA is non-durable, the agent’s power will end when you become incapacitated, and an appointed guardian can take up all responsibilities. Due to the serious nature of guardianship, it is wise to consult with a probate attorney or estate planner when determining who to nominate as a guardian.
Include a sentence or clause declaring the validity of the POA form unless the person relying upon it knows that it is terminated or invalid. This section ensures that the POA will be used in good faith by the agent and others who may require the form to conduct business on behalf of the principal.
This clause formalizes the document’s intent and grants the attorney-in-fact permission to rely on the power of attorney if the agreement has not been terminated, suspended, or revoked.
Once the principal signs and dates the POA form, it becomes a legally binding document. Most states require a notary or witnesses to be present for this step, so review your state laws for notarization requirements before signing.
You must sign the document in the presence of the notary or witnesses consistent with your local laws. If you fail to sign before the appropriate witnesses, the document is deemed invalid, and you must complete a new POA form.
If you cannot physically sign the power of attorney form as the principal on your own, you may designate a legal representative to do so on your behalf.
If your representative signs, they must enter the following information under the signature and acknowledgment section:
Your POA form may include a separate section for the notary public’s information. The notary must typically enter the following:
Depending on your state’s requirements, you may include a separate notary or witness acknowledgment form. The notary or witnesses must verify your identity during the signing. They may ask for identification in the form of a state ID, driver’s license, or passport.
Your POA form must be signed and notarized in accordance with the laws of the state where your representative will conduct business. States may allow you to transfer power of attorney if the POA meets their signing requirements, but not always.
In addition, some financial institutions, businesses, and other organizations will not accept out-of-state POAs.
Ending a power of attorney is just as important as creating one. There may be various reasons someone would want to end their power of attorney, including the agent’s incapacity, the agent’s misconduct, or simply because the principal no longer needs assistance.
If you have decided to terminate, there are a few steps you need to follow:
The first step is to download a Revocation template and provide a written revocation notice to your agent, indicating that you are revoking their power of attorney. The notice should include your name, date of birth, and the date of the previous power of attorney. It should also specify the reasons why you are revoking.
Example:
After granting a POA to her nephew to manage her financial affairs, Linda notices that he has been making decisions that don’t align with her wishes. She decides to revoke the POA by notifying him in writing and informing her bank and other relevant institutions, ensuring that he no longer has the authority to act on her behalf.
Once you have informed your agent, you should notify all third parties relying on the power of attorney, such as banks or financial institutions. You should provide them with a copy of the revocation notice and inform them that the power of attorney is no longer valid.
It is advisable to file the revocation notice with the court where the POA was originally filed. This will ensure a record of the revocation and prevent anyone from challenging the validity of the revocation later on.
You can create a new POA with a different agent if you still need assistance. Carefully choose your new agent and discuss your expectations and limitations with them.
➔ Learn Further: Delve into who can override a power of attorney!
YES, in most cases, a Power of Attorney must be notarized. In many states, this document needs to be acknowledged by a notary public to be legally binding.
Check your state laws to determine if your form needs to be notarized.
YES, Power of Attorney ends at death. At this point, a Last Will and Testament becomes effective.
YES, Power of Attorney expires. When completing the form, you can set the date when it expires. If an expiration date is not written on the document, the document expires when either:
NO, a Power of Attorney cannot be changed without the principal’s consent. The principal must agree to change the powers given to the agent and then create a new form.
NO, a Power of Attorney cannot change a Will. A POA gives an agent authority to make legal decisions on behalf of the principal that is in their best interest, but it doesn’t override a last will.
To get a power of attorney for your parent, you must first ask them to name you as their agent on a POA form and take the necessary steps to ensure that third parties recognize the document.
If your parent is incapacitated and cannot make rational decisions, you can consider pursuing adult guardianship or conservatorship.
A Power of Attorney allows you to choose someone you trust to manage your affairs and ensure they’re handled in your best interest.
Powers an agent could have include:
General Powers: To handle a wide range of legal, financial, and business matters on behalf of the principal. This can include managing financial accounts, conducting real estate transactions, filing tax returns, and making healthcare decisions.
Limited or Special Powers: To grant specific powers, such as selling a particular property, handling a business transaction, or representing them in a specific legal proceeding.
Financial Powers: To enable them to manage the principal’s financial affairs like banking transactions, bill payments, investment decisions, and managing assets.
Healthcare Powers: To make healthcare decisions about medical treatments, surgeries, and end-of-life care on behalf of the principal if they become incapacitated or unable to make medical choices themselves.
Real Estate Powers: To allow the attorney-in-fact to buy, sell, lease, mortgage, or manage real property on behalf of the principal.
As a power of attorney, you have a fiduciary duty to act in the best interests of the person who granted you the power. If you breach this duty, you could be held liable for any damages that result from your actions.
There are several things an agent can’t do when given power of attorney, including:
In addition, an agent with medical power of attorney may be able to make health care decisions for a principal when they’re incapacitated. Still, they can’t go against their end-of-life treatment wishes described in their living will.
To submit POA documents to the IRS, you must complete Form 2848, Power of Attorney, and Declaration of Representative. This form allows you to authorize an individual to represent you before the IRS. You can submit the form electronically or by mail. Make sure to follow the instructions carefully to ensure that your submission is processed correctly.
The critical difference between power of attorney and guardianship is that a court can only appoint a guardian, while the individual can create a power of attorney. This means that setting up a power of attorney is quicker and more private than guardianship, which is a lengthy and less personal legal process.
If an adult becomes incapable of making decisions and hasn’t created a POA, a loved one needs legal guardianship to manage their affairs for them. It’s important to talk to elderly parents about the risks of not having one, the legal costs of getting guardianship, and the stress involved in planning for the future and ensuring their affairs are managed properly.
You can obtain power of attorney forms from a variety of sources, both online and offline. Here’s where you can find them:
In some cases, while you can also create a power of attorney on your own, it is crucial to ensure that any form you use meets your state’s legal requirements to be valid. Using reputable sources for your POA forms, such as those offered by state government websites or established legal service providers, can help ensure compliance and avoid potential issues.
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