How to Do Power of Attorney Yourself
Power of attorney is a legal document that grants someone the authority to act on behalf of another person in various legal and financial matters. While hiring a lawyer to draft a power of attorney may seem like the safest and most secure option, it is possible to do it yourself. This article will guide you through the process of creating a power of attorney yourself, ensuring that you understand the necessary steps and considerations.
1. Understand the Purpose of Power of Attorney
Before you begin drafting a power of attorney, it is crucial to understand its purpose. A power of attorney allows you to appoint someone as your agent, also known as an attorney-in-fact, to make decisions on your behalf when you are unable to do so. This can be due to illness, incapacity, or simply being out of the country.
2. Determine the Type of Power of Attorney
There are different types of power of attorney, each with its own scope and limitations. The most common types include:
- General Power of Attorney: Grants broad authority to the agent to make decisions on your behalf.
- Specific Power of Attorney: Limits the agent’s authority to specific tasks or decisions.
Choose the type of power of attorney that best suits your needs and the level of authority you want to grant your agent.
3. Gather Necessary Information
Before drafting the power of attorney, gather the following information:
- Full legal names and contact information of the principal (you) and the agent (the person you are appointing).
- Specific powers and responsibilities you want to grant to the agent.
- Any limitations or conditions you want to impose on the agent’s authority.
4. Draft the Power of Attorney
Using a template or online resources, draft the power of attorney document. Ensure that the document includes the following elements:
- Clear statement of the principal’s intent to grant power of attorney.
- Full legal names and contact information of the principal and the agent.
- Specific powers and responsibilities granted to the agent.
- Any limitations or conditions on the agent’s authority.
- Signature and date of the principal and the agent.
5. Notarize the Document (If Required)
In some jurisdictions, a notarized power of attorney is required to be valid. Check your local laws to determine if notarization is necessary. If so, visit a notary public to have the document notarized.
6. Sign the Document
Both the principal and the agent must sign the document in the presence of a notary public, if required, or in the presence of witnesses, depending on your jurisdiction.
7. Distribute Copies
Provide copies of the power of attorney to the agent, any relevant institutions or individuals who may need to recognize the document, and keep a copy for your records.
By following these steps, you can create a power of attorney yourself, ensuring that your legal and financial affairs are taken care of when you are unable to do so. However, it is always advisable to consult with a legal professional if you have any doubts or concerns about the process.
