#Power of attorney form professional#

For example, if you sign one, you are giving another person the power to empty out your bank account, sell your house, possibly make gifts to people you don’t approve of, move you from one residence to another, make medical decisions for you, etc. A POA is a very powerful document that can give an agent total control over a principal’s finances and/or healthcare. Merely “looking official” is not sufficient. Most laypeople will have no way of differentiating the good from the bad. No Quality AssuranceFinally, online legal forms vary tremendously in quality and thoroughness.(Yes, sometimes other family members become resentful of the person who was named as the agent and try to invalidate the POA document.) Again, most states require that a POA must be witnessed by two witnesses and notarized. NOW KNOW YOU ALL AND THESE PRESENTS WITNESS that I, the said and do hereby appoint the said Attorney as my true and lawful. Power of Attorney gives the Agent authority to make property, financial and other legal decisions for the Principal. The person who signs (or executes) a Power of Attorney is called the Principal. This makes it impossible to avoid later claims that the form is invalid. Power of Attorney is a legal instrument that is used to delegate legal authority to another person (called an Agent or Attorney-in-Fact). No Legal WitnessesThird, there is no one present to witness the document’s signing who can vouch for the mental capacity of the principal.A generic POA template purchased online may not have the correct wording or components needed to be valid where the principal lives. A few simple words can completely change the way in which a power of attorney document functions.įurthermore, requirements for POA documents vary by state. An attorney’s assistance is crucial when deciding whether the powers put forth in the document should be effective immediately or upon the principal’s incompetence, and, if the latter, under what circumstances.

#Power of attorney form professional#

No Professional CounselSecond, there is no one with legal experience to assist in determining who should be named as the agent (typically an adult child) and who should be named as the successor agent.For example, should the agent have the authority to make gifts to certain family members? If so, how should that be determined and limited? Might some consideration be given to the possibility that the principal may need to move to a nursing home someday? Might they need to apply for Medicaid? If so, it is crucial to include very specific clauses related to Medicaid planning in the POA document.

This information should guide what kinds of clauses are appropriate to include in the document and which clauses should be omitted or modified.

No CustomizationFirst of all, with a generic fill-in-the-blank form, there is no interview process to learn about the principal’s medical, legal, and financial situation.