Limited POA for Real Estate: A person purchasing a home may grant a power of attorney to someone they trust to execute closing documents if they cannot attend the closing.Limited POA for Child Care: A parent may grant a power of attorney to a babysitter or nanny to authorize medical treatment in an emergency while the child is in their care.Military POA: A military service member may grant a power of attorney to a spouse or trusted family member to handle their affairs while deployed overseas.Durable POA for Finances and Healthcare: 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 cannot do so themselves.Durable POA for Business: 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 the employee is out of town or unavailable.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 can 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 someone else the authority 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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