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A Kentucky durable power of attorney form is used by individuals to appoint a third party as their attorney-in-fact to handle any and all monetary decisions on their behalf. The agent cannot compensate themselves and must act in the principal's best interests in every transaction.
If no court-appointed guardian or durable power of attorney exists, a spouse is responsible for medical decisions related to end-of-life care. If there is no spouse or that person is unwilling or unable to make the decisions, adult children are consulted, then parents, and, finally, any nearest relative.
The person making a power of attorney must be of sound mind and have the mental capacity to know what they are doing. It should be notarized. While Kentucky does not technically require you to get your POA notarized, notarization is very strongly recommended.
For your POA to be valid in Kentucky, it must meet certain requirements. Mental Capacity for Creating a POA. ... Notarization Requirement. ... Create the POA Using Software or an Attorney. ... Sign the POA in the Presence of a Notary Public. ... Store the Original POA in a Safe Place. ... Give a Copy to Your Agent or Attorney-in-Fact.
A marriage or legal separation is filed, unless the power of attorney document provides otherwise. Just as under the present law, a power of attorney is not required by the new law to be recorded, unless it is being use to convey, release or transfer any interest in real estate.
A durable power of attorney is a legal document that authorizes one person to act on behalf of another in financial and legal matters. It is one of the most important legal documents a person can have. Every adult over age 18 needs a durable power of attorney.