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The cost of hiring a legal provider to make a Power of Attorney can total between $200 and $500, based on your location.
As well, an attorney cannot make a gift to themselves without the authorization of the court. The court may also authorize an attorney to make a gift that is not otherwise authorized under the act if the court is satisfied that it would be appropriate for the attorney to make the gift.
The difference has to do with whether the powers remain effective after the onset of a disability. That is, the regular power of attorney ceases to be effective if you become disabled, whereas the ?durable? power of attorney continues to be effective despite your subsequent disability.
Steps for Making a Financial Power of Attorney in Michigan Create the POA Using a DIY program or an Attorney. ... Sign the POA in the Presence of a Notary Public or Two Witnesses. ... Store the Original POA in a Safe Place. ... Give a Copy to Your Attorney-in-Fact or Agent. ... File a Copy With the Register of Deeds.
The durable power of attorney must either be notarized (in practice this is preferred) or witnessed by two persons who are not the agent (the person who may act for the principal). The witnesses must also sign the power of attorney.