Power of Attorney
- The Power of Attorney Law provides that any “natural person having the capacity to contract may execute a power of attorney”.
- The power of attorney must contain the date of execution
- The power of attorney must be signed by the principal or by another adult in the principal’s presence and under the direction of the principal.
- The power of attorney is signed and acknowledged before a notary public or is signed by two witnesses.
If the durable power of attorney is signed by two witnesses rather than a notary public, the witnesses must be adults and cannot include the attorney-in-fact representing the principal.
Power of Attorney deals with
- transactions related to real property or tangible personal property;
- stocks and bonds,
- commodities and options,
- banking and other financial institution needs,
- business operations,
- beneficiary transactions related to estates and trusts,
- insurance and annuities,
- claims and legal litigation,
- personal and family maintenance,
- social security or other government program benefits, and
- retirement plans and tax matters
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