Written by Benjamin Kingsley

Do you have questions about or need assistance with a power of attorney? Please click here to email us at contact@legalandme.com.

Do you need a power of attorney form? We make a do-it-yourself power of attorney: finance power of attorney or healthcare power of attorney.

Here are some key elements that a comprehensive power of attorney document should typically include:

A power of attorney (POA) should clearly identify the principal (the person granting the authority) and the agent (the person receiving the authority to act on the principal’s behalf). It’s crucial to include full legal names and contact information for both parties.

The document should specify the scope of powers being granted. This can range from broad general powers to handle all financial and legal matters, to more limited powers for specific transactions or decisions. Common areas of authority include banking, real estate, investments, government benefits, and healthcare decisions.

The POA should indicate whether it is durable or non-durable. A durable POA remains in effect if the principal becomes incapacitated, while a non-durable POA does not. For estate planning purposes, a durable POA is often preferred.

It’s important to include the effective date of the POA. This could be immediate upon signing, or it might be a springing power that only takes effect under certain conditions (such as the principal’s incapacity).

The document should outline any limitations or restrictions on the agent’s authority. For example, the principal might prohibit the agent from making gifts or changing beneficiary designations on life insurance policies.

Clear instructions for how the POA can be revoked or terminated should be included. This typically involves written notice to the agent and any third parties who have relied on the POA.

Finally, the POA must be properly executed according to state law. This usually involves the principal’s signature, possibly witness signatures, and often notarization. Some states have specific statutory forms or language that must be included for the POA to be valid.

Do you have questions about or need assistance with a power of attorney? Please click here to email us at contact@legalandme.com.

Do you need a power of attorney form? We make a do-it-yourself power of attorney: finance power of attorney or healthcare power of attorney.