Free Power of Attorney Forms
A Power of Attorney (POA) is a legal document that allows an individual, also known as the ‘principal’, to grant another individual the power to act on the principal’s behalf in areas related to finance, real estate, healthcare, taxes, guardianship, and more. The individual who receives the power to act on the principal’s behalf is called the ‘agent.’
Power of Attorney differs from state to state, depending on different state laws and guidelines. The extent of the power granted to the agent depends solely on the principal who has created the document.
How to Get Power of Attorney
Obtaining a Power of Attorney is a big decision. Here are some essential steps to keep in mind if you consider granting someone a Power of Attorney over any aspect of your life:
1. Choose someone you trust
You need to ensure the agent you choose to assign power to is legally qualified to become a Power of Attorney. An agent cannot be in a state of bankruptcy, be below the age of the majority in your state, or own a care home you live in.
Think of a trustworthy candidate in your circle of friends or family with whom you have a good relationship and can clearly communicate your needs before signing the POA document.
2. Define the agent’s authority
Clarifying the areas you want the agent to have authority over is key. Take stock of your financial responsibilities, your dependents, the properties you own, etc., before waiving off any responsibilities. When transferring agency over to the attorney-in-fact, you can be as specific or as broad as you want.
3. Obtain the POA form
You can get a POA form in various ways. If there are large stakes involved, you can have a lawyer create a form for you and overlook the entire process. Use our POA generator to start forming your document today.
4. Fill out the POA document
You have your trusted agent, and you also have the key areas of their authority planned out. Now comes the crucial step of filling out the Power of Attorney document. You will need to be specific about when the agent’s powers should come into effect, limitations, if any, on the agent, their powers, the compensation agreed on, additional duties to be taken on by the agent, and special instructions for the agent. Each state has a different form and rules for POA.
5. Signing and notarizing
Signing the POA form is the last and most important step to successfully transferring ownership to your agent. The agent and principal both need to sign the document. Some states also require two witnesses to be present while the signing takes place. The help of a notary is also mandatory in some states.