The Power Of Attorney Requirements In Michigan That Everyone Should Know

Posted by smith clea on August 9th, 2022

What exactly is a power of attorney?

Why do you need one? 

To understand these questions, we have to look at the concept of power of attorney and how it differs from guardianship. 

Power of attorney means that an individual named the principal, can choose to give another person, named the agent or attorney-in-fact, the authority to act on his or her behalf in legal matters.

What Is The Power Of Attorney?

A power of attorney is a legal document that gives someone else the authority to act on your behalf. This can be helpful in a variety of situations. 

Such as if you're going out of town and need someone to handle your affairs while you're gone. 

For this to work, you'll have to go through the process of creating an active power of attorney. 

Once created, it will become effective immediately. It will remain in effect until either party cancels it or dies.

When Do You Need To Prepare A Power Of Attorney?

You may need to prepare a power of attorney if you become incapacitated and are unable to make decisions for yourself. 

If you want someone to handle your affairs while you're out of the country. 

If you're getting married and want your spouse to be able to handle your finances.

There are other reasons why you might need a power of attorney as well, but these are some of the most common.

What Are The Requirements For A Valid Power Of Attorney In Michigan?

A document is only considered a valid power of attorney in Michigan if it meets all the following requirements:

• It has been signed by two witnesses and notarized
• It states specifically what powers it gives the agent, like authority to sell my property, or power to manage my bank account
• It names an agent who is capable of carrying out those duties
• The document includes an end date.

How Long Should It Last?

A power of attorney should last as long as the person who creates it, known as the principal, wants it to. 

But, there are some circumstances where a power of attorney may be revoked sooner. 

For example, if the principal becomes incapacitated or dies. 

The power of attorney automatically expires. 

Additionally, if the principal and agent live in different states, the power of attorney may only be valid for as long as the principal remains in Michigan.

Do I Need Different Ones For Different Purposes?

A power of attorney (POA) is a legal document that gives someone else the authority to act on your behalf. 

You can name one or more people, called agents or attorneys-in-fact, to handle your financial, property, healthcare, and/or business affairs. 

When naming an agent you must decide what powers they will have over your property and affairs. 

It’s important to remember that if you need help managing these areas of your life, you should consult with an elder law attorney before signing any POA documents.

Where Do I Keep My Power Of Attorney Documents?

After you have appointed a person to be your attorney-in-fact, you should give that person a copy of the power of attorney document. 

You should also keep a copy for yourself. 

It is a good idea to keep these documents in a safe place, such as a lockbox or safe deposit box. 

You may also want to give copies to your financial institution and your health care provider.

About The Author

Clea Smith is a USA-based author on Legal issues related to estate planning, will & trust, business law, and elder law. Clea Smith does her best writing on these topics that help users to find the best solutions to their FAQ on estate planning attorney, probate, living trust vs will, and more about legal family issues.