Power Of Attorney In Virginia Requirements
Description
How to fill out Virginia Springing Power Of Attorney?
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FAQ
For your POA to be valid in Virginia, it must meet certain requirements. Mental Capacity for Creating a POA. ... Notarization Requirements. ... 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.
Consult an experienced power of attorney lawyer to create a custom document that meets your needs. Your attorney will ensure the document details the authority granted to the agent, as financial institutions and other organizations will need to review the document.
A. A power of attorney executed in the Commonwealth on or after July 1, 2010, is valid if its execution complies with § 64.2-1603. B. A power of attorney executed in the Commonwealth before July 1, 2010, is valid if its execution complied with the law of the Commonwealth as it existed at the time of execution.
The specific requirements are different in each state; however, in Virginia, your document will need the signature of a notary. If your agent(s) will have the authority to engage in real estate transactions, the Power of Attorney must be notarized and recorded or filed with the county.
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.