A power of attorney form is the official paper that grants another individual the rights to make decisions regarding financial and property matters, according to the Minnesota Judicial Branch. The person on the form exonerating legal rights is the principal, and the grantee of rights is the attorney-in-fact.
Different power of attorney forms are based on demarcation of power, according to the Office of the Minnesota Attorney General. General power grants all decision-making powers to the attorney-in-fact, and limited power designates certain powers only to the attorney-in-fact. A power of attorney form requires validation by a notary public and must be specific in nature.Learn More
Under U.S. law, a will directs a court on how the testator's estate should be handled after death, while power of attorney refers to how decisions should be made while the principal is still living. An individual with power of attorney cannot manage the grantor's estate after death, explains USA.gov.Full Answer >
Rescinding a power of attorney involves writing a notarized statement, notifying the person in writing who previously had that power, and filing the statement with the county clerk in any county containing affected property. A party must be competent to revoke this power, notes Utah Legal Services.Full Answer >
General power of attorney forms vary, according to the American Bar Association. Because power of attorney is granted for a range of situations, the form may need to be tailored to specific needs. States also differ in their legal requirements, and most states have their own form.Full Answer >
Standard power of attorney forms are widely available from a number of online resources, such as Law Depot and Legal Zoom, that specialize in the sale of legal forms. Additionally, most general practice attorneys will carry these forms.Full Answer >