South Carolina Affidavit as to Principal's Competence at Time of Granting Power of Attorney
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How to fill out Affidavit As To Principal's Competence At Time Of Granting Power Of Attorney?
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FAQ
As soon as possible after you have signed your POA and had it witnessed and notarized, you should record (file) it in the land records office (the register of deeds) in the county where you reside.
South Carolina Requires Powers of Attorney to Be Recorded (POAs made before this date are subject to the laws that were in effect at the time.) Note that a POA does not have to be recorded for the agent to exercise powers while the principal still has capacity.
The principal must sign the POA in the presence of two adult witnesses, who will then also sign the will. However, neither of the witnesses is permitted to be the designated agent for the POA. The POA must be notarized before it will be considered valid in South Carolina.
A durable power of attorney, sometimes referred to as a ?financial power of attorney,? is when a principal gives authority to an agent to handle their affairs including their financial affairs.
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.
When a principal grants his or her authority to an agent, it must be done in writing. Similarly, if the principal has decided that such an appointment must terminate, then he or she must put this forth in writing. This type of paperwork will need to be applied physically to the Agent for it to be effective.
The Due Process in Competence Determinations Act (DPCDA), particularly Prob. C § 810-813, sets the standards for determining whether a person has the capacity to enter into a contract.
