If a person is physically absent or mentally incapable of taking care of their own business and money-related affairs, they should use a durable power of attorney. Hence, a Michigan durable power of attorney form will be useful for those residents of this state who want to empower another person – preferably a trusted individual – with authority to deal with your financial matters. That is if you suddenly become unavailable or disabled. By analogy with proxy forms in other U.S. states, this legal instrument must be completed in compliance with local legislation. Besides that, every participant of such an agreement should have a copy of their power of attorney form. As for the effective date, the principal (the creator of a proxy) can decide on it themselves – whether the contract enters into force upon its creation or only after the grantor becomes incapacitated. The term “durable” means that such a type of the power of attorney remains effective even after the declarant being deemed physically and/or intellectually incompetent.
It is also possible to revoke a current durable proxy with a special Michigan Revocation POA.
Michigan power of attorney forms – find other power of attorney documents for Michigan together with guidelines.
A properly drawn up Michigan durable proxy should be created in full accordance with the Michigan legislation (§700-5501). The statements provided in Michigan Power of Attorney laws inform that any proxy should be dated and signed in the presence of the state notary and two witnesses. At the same time, the chosen attorney-in-fact is not allowed to act as a witness, while the notary public may sign the document instead of the grantor.
Filling out the Michigan Durable POA
Those citizens of the state of Michigan, who have no previous experience writing such legal paper as a power of attorney, can easily use our top-notch templates to simplify the process for themselves. All our samples are of the best quality and are presented in all popular formats, such as .docx, .pdf, and .odt.
Provide Details about the Grantor and the Agent
The opening paragraph in this paperwork is designed to identify the declarant and their right to transfer the authority to control their monetary assets to the selected individual. Here, the grantor’s full name and title (if applicable) have to be indicated.
Next, some blank space is provided for specifying the personal and contact information of the appointed attorney-in-fact. Remember to give the full name of the selected person in the same way it is written on their ID card. Next, it is essential to describe the relationship between the principal and their private attorney. After that, it is required to indicate the complete residential address of the named attorney-in-fact.
The primary choice for your agent’s role may become unable or unwilling to fulfill their responsibilities outlined by a durable power of attorney. In such a case, the declarant has the opportunity to select additional agents to step in if the “first option” cannot or won’t perform their duties. The full name, relationship to the grantor, and address of residence of the designated successor agents should be provided below.
Determine the Powers Given to the Private Attorney
A durable power of attorney grants the selected agent with authority to manage the principal’s financial matters and personal savings. In this section of a Michigan durable power of attorney form, the declarant must define the allocated attorney-in-fact’s scope of responsibility and authority. Therefore, the named private attorney will be able to take control of the following financial aspects of your life:
- Banking matters (accounts, cards, etc.)
- Lending and borrowing money
- Government benefits
- Retirement plans
- Personal property
- Legal consultations and proceedings
- Gifts and charity, etc.
In certain circumstances, the grantor might want to apply particular conditions, restrictions, and extensions regarding the powers delegated to their representative. Make sure to be very precise when providing such special instructions in the designated field. Notably, both parties should get acquainted with this part of the contract.
Sign, Date, and Verify the Agreement
The durable power of attorney must be dated and signed by all the participants and then authorized by the state notary. Afterward, it becomes a legally binding document. Hence, the declarant must put their signature and date it, confirming the authenticity of their intentions. A proxy should be signed in the presence of a notary and a couple of adult witnesses. The principal must enter their name, signature, and current date into the specified field.
The assigned attorney-in-fact also must verify this juridical document by putting their complete name, current date, and signature where it is required. This way, this individual will assume the responsibility and powers presented to them to control and manage the business, real estate, and wealth of the declarant and make crucial decisions in their name.
The witness being present during the creation and signing of this legal paper should first read their statements and only then sign it. They also need to indicate their full name, current date, and residential address.
The “Notary Acknowledgment” part, which can only be completed by the notary public, notarizes the POA arrangement. Thus, the notary checks and confirms the information given, and if everything is fine, they sign and seal the proxy.
Other Michigan Forms By Type
Other Durable Power of Attorney Forms By State
- AZ durable power of attorney
- California durable power of attorney
- CO durable power of attorney
- Florida durable power of attorney
- Georgia durable POA
- Illinois durable POA document
- Indiana durable power of attorney
- Kansas durable POA for financial matters
- Maryland durable POA form
- MA durable power of attorney
- Missouri durable POA form
- NJ durable power of attorney
- NY durable power of attorney
- NC durable power of attorney
- Ohio durable POA for financial matters
- Oklahoma durable POA form
- Oregon durable power of attorney
- Pennsylvania durable POA form
- SC durable POA for financial matters
- Tennessee durable power of attorney
- Texas durable power of attorney
- Virginia durable POA form
- WA State durable power of attorney