The citizens of Wyoming use Wyoming power of attorney forms to make legal arrangements about the delegation of some (or all) of their authorities to another person – an assigned agent. This document gives considerable powers to the agent, enabling them to sign documents and make serious decisions on behalf of the principal. Hence, proper caution should be exercised by the principal when choosing an agent. This should be a person to whom they can trust their financial and real estate affairs, care for the underage children, and the rest of the routine life decisions that can potentially be life-changing.
The one who completes a power of attorney template to assign authority to another person is a principal.
The one who accepts those assigned duties and acts on the principal’s behalf is an agent, also referred to as attorney-in-fact.
Download your fillable Wyoming Power of Attorney Form in PDF format:
– Adobe PDF
Why Use a POA Form in Wyoming
Why should you opt to use any of the available Wyoming power of attorney forms? Life situations vary, and the delegation of your powers may be needed in several cases. First, you may face the need to travel abroad, leaving your house, family, and business without oversight for some time. Second, you may be employed at a high-risk job, thus needing insurance for medical and life decisions for emergencies. Third, you may wish to sell your house or car but have no time to meet with endless customers and negotiate the terms. In all of these cases, you can draft a POA to assign an agent who will perform all those activities for you.
To make everything legal, make sure to write the POA document according to requirements set in Title 3, Chapter 5 of the Wyoming state law. Only by following these legal demands you can guarantee that the POA document is legally binding. The critical points of the law are:
- For the signees to be 18 years old;
- For the principal to be of sound mind;
- For the POA to be signed and notarized in the presence of a notary public.
The POA should be signed by an agent, an assigned principal, and two adult witnesses. Depending on your individual circumstances, you can choose among the following POA types.
This POA type is the commonest of all power of attorney documents. It gives an agent powers to manage the principal’s financial affairs. However, the document loses its power once the principal gets incapacitated or dies.
Limited or Springing POA
This POA type was designed for specific circumstances in which a principal may need the agent’s help. It means that under the limited POA’s conditions, an agent doesn’t perform any assigned duties regularly, stepping on only after some condition is realized. The latter activates the POA, making it “spring” into effect and empowering the agent to make some specific decisions.
The durable POA type is an extension of the general POA with the only exception – it still holds force after the principal gets incapacitated. In cases of the principal’s death, the same works for the durable POA; it loses its effect and becomes void.
Medical power of attorney documents are drafted for the situations when the principal doubts their mental and physical capacity and wants to get the reassurance of having a trusted individual to decide on their treatment. Agents assigned with a medical POA can pay for the principal’s treatment from the principal’s account, can make treatment-related decisions, but are not allowed to terminate the life-sustaining support. In this way, the principal’s life or death decisions lie beyond the scope of medical POA powers.
Minor Child POA
If you have minor children and need to go abroad for some time, it’s the right time to compose a minor child POA. This document will give an assigned agent power to pay for your kids’ tuition, make vital decisions about their accommodation and wellbeing, and manage the rest of their affairs that you may be unavailable for.
POA usually specifies the terms or the duration of the agent-principal relationship, but things change, and you may want to alter or annul the agent’s powers earlier than the document specifies. In this case, you should file another POA – the revocation type – to annul the previous POA. A copy of the revocation POA should be delivered to the agent to notify about their duties’ termination.
You may need a vehicle POA once you decide to buy or sell your vehicle. Talking to the prospective buyers and sellers may be too time-consuming. Besides, you could lack the vital technical skill and knowledge to strike a profitable deal. Thus, it may be useful to find a professional car dealer and entrust them with the deal via a vehicle POA.
Real Estate POA
Selling or buying real estate is also a serious undertaking that not everyone has the time and desire to study in-depth. Thus, when you need to get a real estate deal completed, you can hire an agent and give them the authority to sign a deal on your behalf based on the predetermined parameters.
State Tax Power of Attorney
Not everyone is good at calculating and filing taxes, so they may need a professional to help them out. To have your taxes managed by a pro, sign a state tax power of attorney and assign an accountant to submit the IRS Form 2848 on your behalf. However, keep in mind that all errors or fines for miscalculations lie on the principal, not the agent, so be careful when assigning agents. These should be qualified experts that will not let you down.