Purpose of General Durable Power of Attorney for Property and Finances
This document allows you to appoint an agent to manage your financial affairs and property. It remains effective even if you become incapacitated or disabled, ensuring your financial matters can continue to be handled without interruption. This power of attorney does not cover medical or healthcare decisions, which require a separate document.
Situations that call for this form
This form is useful in various situations, including:
- When you want someone to manage your financial affairs in your absence.
- If you anticipate a time when you may be unable to handle your finances due to illness or disability.
- When you need to authorize someone to make financial decisions on your behalf, such as selling property or managing investments.
Typical users of General Durable Power of Attorney for Property and Finances
This form is intended for individuals who want to designate a trusted person to handle their financial matters. It is suitable for:
- Adults planning for potential future incapacity.
- Individuals with health concerns who may need assistance with financial decisions.
- Anyone wishing to ensure their financial affairs are managed according to their wishes.
Document breakdown
The form includes several important sections:
- Principal Information: Details about the person granting the authority.
- Agent Information: Information about the designated agent who will act on behalf of the principal.
- Powers Granted: A comprehensive list of financial powers the agent is authorized to exercise.
- Specific Authority: Options for granting or limiting specific powers to the agent.
- Signature and Witness Requirements: Sections for the principal's signature and witness verification.
Instructions for completing the General Durable Power of Attorney for Property and Finances
Follow these steps to fill out the form:
- Identify the Principal: Enter your full name and address in the designated sections.
- Choose Your Agent: Provide the full name and address of the person you are appointing as your agent.
- Grant Powers: Review and check the specific powers you want to grant your agent, ensuring you understand each one.
- Include Special Instructions: If applicable, add any special instructions regarding your agent's authority.
- Sign and Date: Sign the document in the presence of witnesses, who must also sign to verify your identity and sound mind.
Laws and rules by location
This form is designed to comply with North Dakota laws regarding durable powers of attorney. It includes specific provisions that ensure its validity in the state, such as the requirement for witnesses and the acknowledgment of the principal's mental capacity at the time of signing.
Access this form when and where you need it
Accessing this form online offers several advantages:
- Convenience: Download and complete the form at your own pace, from anywhere.
- Editability: Easily make changes or updates to the form as needed.
- Legal Reliability: Ensure you have the most current version that meets legal standards.
