Power of Attorney (POA), be it of any kind, allows you (principal) to appoint an agent who has the authority to act on your behalf in certain specified conditions, thus essentially allowing the agent to access privy information and to carry out various transactions (of varied nature) in your name.
What is Michigan Power of Attorney?
Michigan power of attorney is the legal document drawn to confer powers on an agent by the principal. POA in Michigan is primarily covered under the state’s common laws which came into effect through various court decisions. Michigan POA laws are mentioned under Section 700.5501 and Section 700.5506 of chapter 700 of the Michigan Compiled Law.
However, there are some aspects of the POA which fall under the purview of Michigan Statutes, of which few have been changed over the past several years. Thus, it becomes essential to ensure that the POA drawn by you is meeting the current legal standards.
Why Would You Use a Michigan Power of Attorney Form?
The principal can draw power of attorney for any number of users according to his/her prerequisite. A power of attorney Michigan can be drawn for the following purposes:
- Financial matters
- Healthcare matters
- General POA
- Real Estate Matter
- Matters concerning a minor child
- Vehicle-related matters
- Tax-related matters
What is The Power of Attorney Requirements in Michigan?
Creating a POA document in the state of Michigan requires the following stipulations to be met:
- Duly filled POA forms with all necessary details about the principal and the agent.
- The form must list down all the powers that the principal wishes to pass on to the agent with proper clarity. The principal can also note down the limitations for the agent.
- The final form, completed in all aspects, has to be then signed by both the principal and the agent in the presence of two credible witnesses and a notary public. The signed form is then notarized to make it legal.
Types of Power of Attorney in Michigan
Under the laws of the state of Michigan, there are following types of power of attorney:
This is drawn by the principal to appoint an agent to make all decisions regarding financial matters on behalf of the principal. This type of POA is terminated when the principal is incapacitated.
Similar to the general POA, this allows the agent to make all types of financial decisions towards the benefits of the principal. Durable POA either comes into effect upon the principal’s incapacitation or is continued even after the principal is not of sound body and mind.
This type of POA grants the agent certain specific powers for a limited period. Upon completion of the task, the POA becomes ineffective.
This is drawn to designate an agent or a “patient advocate” who will be responsible for making all healthcare-related decisions for the incapacitated principal.
Minor Child Guardianship POA
In case the parent of a minor is supposed to travel for a long duration owing to education, work, etc. she/he can draw the minor child guardianship POA to appoint an agent as a guardian.
Real Estate POA
This POA allows the principal to appoint an agent to make all decisions related to real estate on the principal’s behalf.
This allows the agent to manage and act in all matters related to taxation with the Department of Treasury on the principal’s behalf.
Vehicle/Boat/Mobile Home POA
The vehicle POA form in the state of Michigan, also known as TR-128, gives authority to an agent to purchase/sell any vehicle on behalf of the principal.
Revocation of POA
This power of attorney form Michigan is used to cancel any existing POA created in the state of Michigan. The completed form is to be sent to all concerned parties.
How to Get A Power of Attorney in Michigan?
To obtain power of attorney in Michigan, the following things are required:
- Identification of the principal who will be conferring his/her powers onto someone else.
- Identifying the agent who will receive the powers. One can also identify a second and a third agent in case the first agent is not available.
- The power of attorney document for the state of Michigan. The form can be chosen based on the needs of the principal.
- Signature of the Principal on the form. If not available, the principal can appoint an individual to sign on her/his behalf.
Based on the type of POA form, the principal and the witnesses’ signature will have to be authorized by a Notary Public.
If you wish to draw or create a POA in the state of Michigan, you can download the required power of attorney forms Michigan from CocoSign. CocoSign has a range of templates for various POAs in the state of Michigan.
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