Q:

What is a Power of Attorney form?

A:

Quick Answer

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.

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Full Answer

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.

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Related Questions

  • Q:

    What are the differences between a will and a power of attorney?

    A:

    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.

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  • Q:

    How do you rescind a power of attorney?

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    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.

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  • Q:

    What is on a sample power of attorney form?

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    The names of the assigning party or the principal, the agent, effective dates, and property covered by the agreement all belong on a power-of-attorney letter, according to the Law Offices of Leonard E. Cox. Laws governing this vary slightly by state, so checking local laws ensures a correct form.

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  • Q:

    What form is used for power of attorney?

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    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.

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