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3 Things To Know About Power Of Attorney Forms
A Power of Attorney form is a type of document that is used by an individual to bestow some authority to another person to act on his / her behalf and take some decisions or actions for him. The first person is known as the ‘Principal’ or ‘Grantor’ in this case while the second person is referred to as the ‘Agent’ or ‘Attorney in Fact’. This is a legal document and is recognized by the law. Here are 3 important things that you have to know about Power of Attorney forms.
POA should be customized as per state
Keep in mind that this document needs to be customized according to the state of residence. For example, if you are creating POA for your parents who live in some other state, the document has to be tailored for the state that they live in. As long as the POA is applicable to the state of residence of the principal, your parents in this case, it never matters which state they live in.
Removal / changing of Power of Attorney
Generally, when you prepare a new POA that addresses the same authorities as the prior one that you made, it would automatically revoke your prior POA form. It is essential for you to notify about this change to all the concerned institutions and individuals. Complete this Revocation of POA form and sign it, so as to get rid of your existing legal power of attorney template. For more information about getting a power of attorney form in Alabama, please visit this website.
POA cannot change any will
It is often asked whether a Will can be changed by a Power of Attorney form. As a matter of fact, the individual who created the will is the only one having the authority to change the same. There is no POA that will let an Agent modify or change the will of the Principal. Please visit this site to get a sample power of attorney form in Arizona.
Carl writes often about legal drafting, rental lease agreements, power of attorney form sand help the people in such needs. You can find his thoughts at durable power of attorney blog. To learn more about drafting a power of attorney form in Oklahoma online, visit this website.
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