A durable power of attorney is mostly used for financial purposes. It allows an individual—referred to as the principal—to select a trusted friend, loved one, or college to oversee their financial matters—legally named the attorney-in-fact. Citizens of the state of New Jersey can fill out a New Jersey durable power of attorney form to create a legally binding document to secure their financial and business-related matters if they are to become unable to do so. In many cases, this includes instances where the principal is to become disabled or fall too ill due to a terminal illness.
Among the long list of things that the principal can hand over to the appointed individual include managing bank accounts, any decisions surrounding the principal’s business, the buying and selling of property, and any other financial matters or assets held under the principal’s responsibility.
The responsibilities that the chosen attorney-in-fact will oversee include but are not limited to:
– The buying, selling, and refinancing of the property
– Controlling of bank accounts
– Any decisions that need to be made for business-related purposes
– Managing of the assets owned by the principal
New Jersey power of attorney forms – know more about powers of attorney for different assets in New Jersey.
New Jersey Requirements
As with any legally binding document, the power of attorney form must be filled out following the requirements outlined in New Jersey Signing Requirements (§ 46:2B-8.9). These laws included in the requirements regulate the completion of durable POA forms in New Jersey, defining them as a legal document. Included in the laws which are necessary to comply with are:
- The New Jersey durable POA should include:
The full legal name and signature of the creator (principal) of the durable POA
- The full name of the chosen attorney-in-fact
- The full name of the chosen successor-used only in cases where the original appointee cannot act
- The current date
- A numbered list of the powers the selected individuals may oversee
- The allotted time in which the attorney-in-fact will have control over the principal’s financial and business matters granted
- New Jersey signing requirements state that all parties’ signatures are required and only legally recognized when done with a witness and a notary public. The witness may not be a relative or anyone appointed in the POA document.
- If there is a need to transfer property, the document should be registered with the County Registrar’s Office.
Filling out the New Jersey Durable POA
To ensure that you have included all of the necessary requirements, signatures, and appointed powers, use our free and customizable New Jersey durable power of attorney form. You’ll find them on our website, ready for download in a high-quality PDF form.
Collect Necessary Documents
The first step in creating a durable POA form is to collect all of the necessary documents. This will help to speed up and ensure the process, ensuring that you are collecting everything you need to create the form quickly and correctly. Powers will need to be written, and forms will need to be signed to complete the document’s legal certification. After the paperwork is collected, the next thing is to download a proxy sample of the New Jersey durable POA form.
Assign Powers and Dates
A durable power of attorney comes with several areas in which the appointed attorney-in-fact can oversee. The principal has the right to choose which financial and business-related matters their appointee and/or successor may oversee, including banking, business, and property management matters. Principals can point out their preferences using a numbered list in writing.
Signatures and Notarization
When the form is complete, and the principal is ready to sign, they will need to do so in the presence of a witness and a notary public. The state of New Jersey allows the principal to select the notary public as their witness, so long as they include their full name along with the date of creation of the durable POA form.
Also necessary for the legal creation and use of a POA are the seal of a notary public and signature. The principal should secure a copy for both themselves and all parties, including making sure they have it when it is needed.
Other New Jersey 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
- Michigan durable power of attorney
- Missouri durable POA form
- 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