A legal instrument that allows a person, typically referred to as the "Agent", to act in the BEST INTEREST of someone else, typically referred to as the "Principal", for all FINANCIAL matters legal under the laws of your State. This means that you can assign someone else to do anything from pay bills to managing real estate transactions. Unlike any of the other forms, if the Principal becomes in a state of mind where they cannot think for them self, (which is usually determined by a medical physician but always see the laws in your State), the form stays VALID which makes durable is the MOST POPULAR power of attorney form used in the United States.
Among young people, this is highly recommended for our service men and women in the military to have authorized before they are deployed. Therefore, they are able to select someone back home to take care of the necessary financial obligations whether it be for a cell phone, auto, and/or mortgage payments.
Among older people, this is highly recommended for our seniors facing the upcoming challenges of Alzheimer's disease, dementia, risky surgery, or any other health issue that may impair their clear thinking. Unfortunately, there has been an epidemic of "fraud-like" actions especially with American seniors so make sure that the person that you choose is a TRUSTED individual. It is extremely difficult to prove fraudulent transactions with transferring this much power to someone else, especially since they will most likely have control of all your assets including real estate and your personal and business bank accounts. They do not have to pay for just YOUR bills if they can prove that it was in your best interest in the court of law and to revoke this form if you are in a state of incapacitation is almost impossible and if it does happen could take up to 6 months.
*REQUIREMENTS FOR LEGALITY
- Must be Signed and Dated by the Principal and the Agent
- Must be Witnessed by either Two-Non Blood Related Relatives or a Notary (Highly Recommended to use a Notary)
- Parties involved must sign out of their own free will with the full intentions of granting and acting as the duties and roles required.
OTHER POA FORMS: