Attorney Power Mi Without Capacity
Description
How to fill out Michigan Power Of Attorney Forms Package?
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FAQ
To make a POA in Michigan, you must sign in the presence either of (1) a notary public or (2) two witnesses. Even though you have a choice in Michigan, it's usually best to choose notarization, since many financial institutions are used to seeing notarized POAs and might be resistant to one that is witnessed only.
The person who signed the power of attorney form can revoke the agent's authority if they are of sound mind. They can draft a new document to take power of attorney away from one person and grant it to an alternate agent.
The POA cannot transfer the responsibility to another Agent at any time. The POA cannot make any legal or financial decisions after the death of the Principal, at which point the Executor of the Estate would take over. The POA cannot distribute inheritances or transfer assets after the death of the Principal.
One major downfall of a POA is the agent may act in ways or do things that the principal had not intended. There is no direct oversight of the agent's activities by anyone other than you, the principal. This can lend a hand to situations such as elder financial abuse and/or fraud.
Yes. If a guardianship or conservatorship was established, and the guardian or conservator wanted to terminate the Power of Attorney and a dispute arose over the management of the assets by the person acting under the Power of Attorney, the Probate Court could hear this matter.