In either circumstance, the principal will need to choose the correct type of New Hampshire power of attorney forms, which best suits the situation. Not every situation is the same, and not all power of attorney forms are created equal. A few common types are:
General Power of Attorney Form
A general power of attorney form is the most basic and most commonly used power of attorney form. It is used to pass the full financial responsibility of one individual over to another. General POAs will remain valid except in the case that the principal becomes disabled or dies.
Real Estate Power of Attorney
A real estate power of attorney is used when the principal is either purchasing, selling, or refinancing their property. This is usually a short-term power of attorney that hands over the responsibility of making decisions over to an attorney-in-fact that will participate in all of the paperwork from start to finish. In this type of POA, there are usually very strict and specific parameters put in place by the principal to ensure that all things are carried out responsibly, keeping the principal’s finances safe.
Parental Power of Attorney
If there is ever a case where a legal guardian or parent needs to leave the country for an extended amount of time, they will need to fill out a parental power of attorney. This document gives the attorney-in-fact the right to act as a parent and care for the child, signing any papers related to their education or health. This is another example of a POA with specified authorities and timeframes, turning the full responsibility over to the legal parent once they are back in the country.
New Hampshire Tax Power of Attorney
In a tax power of attorney (Form DP-2848), selecting a responsible individual is perhaps the most crucial part of the process. This person is responsible for overseeing that all tax preparations, including required documents, are included to ensure that the taxes are properly filed, and all fees are paid. This POA could be used to fill out legal documents or other necessary paperwork that deals with the taxpayer’s finances and other legal business.
If there is any misfiled paperwork or any problems with the tax return, the principal faces all of the charges. The person who prepares the tax documents and the person in charge of setting everything in motion will not be charged for any mishandlings if they are the ones to take care of all of the paperwork. Therefore, careful attention must be taken when choosing a power of attorney.