This General Durable Power of Attorney for Property and Finances Effective upon Disability form is a general, durable power of attorney which is effective ONLY upon the principal's disability, incompetency or incapacity. You can use this form to appoint an attorney-in-fact (agent) to make decisions regarding property, financial, management, banking, business and other matters for you. The powers granted to an Agent in this Power of Attorney are very broad, but do NOT provide for health care services.
Durable Power Of Attorney For Property With 2 Agents
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How to fill out Indiana General Durable Power Of Attorney For Property And Finances Or Financial Effective Upon Disability?
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FAQ
Co-agents have equal decision-making abilities and if they are granted joint powers then they cannot act independently and must make all decisions together. This can create serious issues if they do not get along and have trouble reaching consistent agreements.
A power of attorney can name one agent or it can require two or more agents to act together. If you are acting as a co-agent under a power of attorney, but you and your fellow agent disagree on a course of action or one party has stopped participating in decision making, what can you do?
If power of attorney co-agents disagree on a financial decision and the principal is mentally competent and not physically incapacitated, then the principal's decision supersedes the representatives. The principal also has the authority to revoke an agent's authority.
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This is sometimes called a specific POA. A principal can appoint more than one agent and have two co-agents, for example.2. Notices for durable power of attorney. The powers you want to give an agent (specific power of attorney). Durable Power of Attorney: the durable power of attorneys allows the authority you give to your agent to stay effective even after your incapacity. The power of two. Consider naming two agents to act together if your state allows for it. The prohibition on naming co-agents stated in this article only applies to the Statutory Short Form POA for Property, correct? Yes. This is a special power of attorney that only allows your agent to sign a deed for the property.