Things To Know Before You Sign A Power Of Attorney Document

A document recognized by the law, Power of attorney provides a designated individual with the permission to act on behalf of some other person – in case the latter is mentally incapable of taking his own decisions. Here are some of the top things that one has to know prior to signing an official power of attorney document.  Please visit this site to ​​get a sample power of attorney form in North Dakota.

 

The grantor should understand the contents properly

The grantor or the principal, the individual who assigns the POA, needs to be mentally sound while signing a POA. He should have a proper idea of the contents and significance of the POA document. It is essential that the principal drafts the paper should be effective upon his incompetence, incapacitation or disability. Else, the document will be effectual soon after it is signed.

Important to appoint an agent who is mentally sound

The grantor needs to appoint an individual who can be trusted as an attorney-in-fact or agent. The powers vested to an agent would be based on your choices that you make when you are mentally sound. These powers may be broad, and allow the execution of each financial and legal act, as well as every decision about medical care. Limited legal documents power of attorney forms are used often when a General POA is given.

Essential to know whether the agent is willing to act accordingly

Before you sign a POA, talk to the individual you wish to appoint as an agent and find out whether he is willing to serve as one. A few people might not like to accept such a responsibility. In case the first individual is uninterested, opt for a second or third individual – if needed. Choose one who would be comfortable in his role. He needs to be a reliable person, always having your best interests in consideration.

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