A power of attorney letter includes the name of the individual designating power of attorney, the details regarding what the power of attorney may control, such as medical or financial decisions, a signature and date. The power of attorney letter must be notarized, according to Minnesota Judicial Branch.Know More
The person designating power of attorney within a signed, notarized letter must also include the signature of the person designated as the power of attorney, who is commonly referred to as the agent, according to the American Bar Association. A power-of-attorney letter provides the agent with the power to act on an individual's behalf immediately, or in the future when a person is unable to advocate for himself due to physical or mental disability. In some cases, individuals appoint a power of attorney to handle financial matters when they are unable to be physically present. For example, a power of attorney may be provided the power to sign for the purchase or sale of a home in the absence of the owner.
Power of attorney letters may also list a time frame in which the agent has decision-making power, making the designation temporary or permanent. A power of attorney letter may be modified or dissolved at any time, should the individual wish to nullify the contract or appoint a new agent, according to the American Bar Association.Learn more about Financial Planning
A notarized letter includes the state, county, date, name of the notary, explanation of the method of verification, verified signature and official notary seal. The notary's seal includes the date, the name of the notary, the state where the person is licensed as a notary and when his commission ends.Full Answer >
There are two main types of power of attorney: financial power of attorney and medical power of attorney. Financial power of attorney gives someone the ability to make financial decisions for another person, while medical power of attorney focuses on medical decisions, the American Bar Association states.Full Answer >
A power of attorney is only valid during the lifetime of the named principal of the power of attorney, according to the Duffy Law Firm. Once the principal has passed away, the document immediately becomes invalid.Full Answer >
All states have laws that specifically state a power of attorney expires on the death of the principal, according to LegalZoom. A power of attorney expires under certain circumstances, including death.Full Answer >