People often wonder about the importance of a Power of Attorney and wonder when this document will need to be exercised in their personal affairs. This is a type of document that many people will utilize when dealing with financial matters. Many situations will warrant this type of a document from buying a house, receiving settlement proceeds, handling aging family members, and even an accident or other unexpected incapacitates. It is a very common thing to need a Power of Attorney notarized.
There are two types of Power of Attorneys that require a notarization. The first one is a basic Power of Attorney. This gives someone else the capabilities to act in your name. The sphere of the power of attorney will be defined in the document itself. Power of Attorneys vary in nature. A Durable Power of Attorney is a must-have document for anyone who is concerned about long-term medical or financial situations.
The other type is a Durable Power of Attorney. If the grantor becomes incapacitated through an injury or mental illness this type of document will be utilized. It’s an unfortunate situation that some people become incapacitated as they begin to age, either from debilitating illnesses or unfortunate mental decline. When a durable power of attorney is in place family members can obtain peace of mind because their loved one will be cared for even when they are unable to approve important medical or financial decisions. A Durable Power of Attorney could grant someone the power to pay bills, and handle one’s financial affairs. It is vital not to wait for an emergency or last minute situation to occur before having the Power of Attorney prepared.
There are some very simple steps one should take during this process which will guide you and save you time and unnecessary work. The first step would be to get your Power of Attorney. It is highly recommended that you get this very important document drafted by an attorney. Take this time to utilize the skills and expertise of your attorney and get any legal questions out of the way before the notary arrives. Being that a notary is not qualified to answer legal questions and it is illegal for them to do so. If you choose to obtain the form on line or at an office type of store you might choose the wrong type of Power of Attorney form, which may be unacceptable to the custodian of the document, or to the courts. If you elect to obtain the form on your own, please make sure the form is filled out and complete before you seek notarization.
Second step would be to find a notary. This is easy due to the fact that any notary may notarize a Power of Attorney and the various types of Powers of Attorneys. The only requirement after that would be to have a valid and current photo-ID from a government agency. If ID is expired it can not be acceptable past five years of expiration.
Third step after notarization, submit it if necessary to the particular party involved, or seek proper registration of the document. Seeking guidance from an attorney will aid you in this important step regarding your Power of Attorney. Being well advised and sensible will prevent errors and make this process run smooth.