What is a Power of Attorney? The legal document to make decisions

A Power of Attorney (POA) is a legal document that gives a trusted person or entity the authority to handle your finances and legal matters, such as signing contracts, selling property, accessing bank accounts. The individual giving control is called the “principal,” and the individuals or organizations obtaining powers are known as the “agents.”

When can you use a Power of Attorney?

You want to grant authority to someone to act on your behalf in legal affairs during your absence.

You want to grant authority to someone to act on your behalf in legal affairs in the event you become incapacitated.

You want to grant authority to someone to act on your behalf in legal affairs in specific situations.

Do I need a Power of Attorney?

It is advisable for anyone over 18 to have a Power of Attorney. Though it’s painful to acknowledge, a time might come when you can no longer handle your affairs on your own. There will also be times when you’re simply not available. Here are a few common situations in which a PoA can be useful:

You are incapacitated, injured or detained and unable to attend to financial, real estate, or other personal matters in a timely manner.

You are planning to move out of your home and into an adult care facility.

You have plans to travel or move abroad temporarily or permanently.

You would like to authorize someone to act on your behalf if you are unable to be present.

You are getting older or dealing with limited mobility or ongoing health issues.

Whether this Power of Attorney has been produced as a result of an emergency or as part of a long-term plan, witnesses and/or notarization are strongly recommended for protecting your agent if a third party disputes their privileges and authority.

What do I need to do after creating a Power of Attorney?

After you have made your document, you will typically need to print it out and sign the document in the presence of a notary. Each state has different laws, so every Rocket Lawyer Power of Attorney comes with its own curated checklist for what to do next. You should provide a copy of your signed document to your agent(s), financial institutions, and other impacted parties.

Does a Power of Attorney need to be notarized, witnessed, and/or recorded?

The specifications and restrictions governing PoA forms will be different in each state; however, it is a best practice to have your Power of Attorney signed by yourself and two witnesses in front of a notary public in order to reinforce its validity. Witnesses should be at least 18 years old, and no witness should simultaneously be acting as your agent.

If your agent(s) will engage in real estate transactions, the Power of Attorney will also need to be recorded or filed with the county.

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