How do you create a legally binding financial POA?

A financial POA does not need to be long and complicated. It does need to be clear and unambiguous.

Most people use the services of an estate planning attorney to ensure that the document is completed correctly according to the law and comprehensively covers their true wishes.

At The Estate Planning Law Firm, we have a variety of templates that can be used to make it easy.

After you have selected your representative, this individual will need to accept the responsibility by signing an “acknowledgment of the attorney-in-fact responsibilities” located here.

Your completed document should specify the financial affairs that the attorney-in-fact is responsible for.

A durable POA should include the following statement:

“This power of attorney is not affected by the principal’s subsequent disability or incapacity, or by the lapse of time.”

A springing POA should include the following statement:

“This power of attorney is effective upon the disability or incapacity of the principal.”

To be legally binding, you must sign and date it, or a notary public must sign on your behalf if you are physically unable to sign but mentally competent to do so.

The document must then be acknowledged before a notary public or signed by at least two witnesses, neither of whom can be your attorney-in-fact.

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At The Estate Planning Law Firm, PLLC, we believe that it should be simple and stress-free to nominate someone to look after your finances – and it should be affordable for everyone.
We can help you create a financial power of attorney quickly and effectively. Get started today.