Contract Review Checklist With Dates
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FAQ
Legal Requirements for Durable Power of Attorney Created by an adult or emancipated minor. In writing. Dated. Signed by the ?principal? or creator of the power of attorney or advance directive. Signed by two adult witnesses, at least one of whom isn't related to principal OR acknowledged by a notary public.
The witnesses must be adults and cannot be the Agent, the Agent's spouse or children, or the notary public. The Power of Attorney must be registered in the office of the register of deeds in order for it to be effective after the principal becomes incompetent. Until then, registration is unnecessary.
A power of attorney must be signed by the principal or in the principal's conscious presence by another individual directed by the principal to sign the principal's name on the power of attorney.
You dictate the actions you permit the person to take, and you can limit it to a single transaction or give the person general authority. You can revoke a power of attorney through a written revocation form, which must be given to your agent and to the individuals and businesses the agent deals with on your behalf.
The requirements and restrictions vary in each state; however, in Mississippi, your document will require notarization. If your agent will have the authority to manage real estate transactions, the Power of Attorney will need to be acknowledged by a notary and recorded or filed with the county.
Individual Document Preparation Specific document preparation, like drafting a single will or power of attorney, can cost between $150 and $400 per document in Mississippi.