Structure
In Michigan, the General Power of Attorney form serves as a crucial tool for individuals seeking to empower a trusted person to make decisions on their behalf. This legal document allows the designated agent to handle a wide range of financial and legal matters, ensuring that your affairs are managed according to your wishes, even if you are unable to do so yourself. Key aspects of this form include the ability to grant authority over financial transactions, property management, and even business dealings. It’s important to note that the powers granted can be broad or limited, depending on your specific needs and preferences. Additionally, the form must be signed in the presence of a notary public to ensure its validity, providing an extra layer of security. Understanding the implications of this form can help individuals make informed choices about their future and the management of their assets.
Form Example
Michigan General Power of Attorney
This Michigan General Power of Attorney ("Power of Attorney") is designed to grant broad powers to an individual of your choosing (referred to as your "Agent") to handle your financial and personal affairs. It is governed by the laws of the State of Michigan, specifically the Michigan Compiled Laws, Act 386 of 1998, known as the Estates and Protected Individuals Code (EPIC). This document does not grant any healthcare decision-making powers.
By completing and signing this document, you (the "Principal") grant your chosen Agent the authority to make any decisions and take actions concerning your property and financial affairs as if you were making those decisions and actions yourself. It is crucial that you trust the person you appoint as your Agent, as they will have significant control over your affairs.
Principal Information:- Full Name: _____________________
- Address: ________________________
- City: ___________________________
- State: Michigan
- Zip Code: ______________________
- Full Name: _____________________
- Address: ________________________
- City: ___________________________
- State: _________________________
- Zip Code: ______________________
Powers Granted: By signing this document, you grant your Agent the following powers, but not limited to, the power to:
- Buy, sell, lease, or otherwise manage and deal with property and real estate.
- Conduct banking transactions.
- Enter into binding contracts.
- File tax returns and handle matters related to taxation and the IRS.
- Handle matters related to investments.
- Claim, litigate and settle personal and property claims.
- Make decisions regarding retirement benefit accounts.
- Transfer property or assets to a trust they have the authority to revoke.
Duration: This Power of Attorney will become effective immediately upon signing and will remain in effect indefinitely unless a specific termination date is provided below or the document is revoked in writing by the Principal.
Termination Date (if applicable): _______________
It is advised to consult with a legal professional before executing this document to ensure it accurately reflects your intentions and is completed in compliance with Michigan law.
_________________________ _________________________
Principal Signature Date
_________________________ _________________________
Agent Signature Date
State of Michigan
County of _____________________
Subscribed and sworn to before me this ____ day of ________________, 20__.
____________________________________
Notary Public
My commission expires: _______________
Document Properties
| Fact Name | Description |
|---|---|
| Definition | The Michigan General Power of Attorney form allows an individual to appoint someone else to manage their financial and legal affairs. |
| Governing Law | This form is governed by the Michigan Compiled Laws, specifically MCL 700.5501 through MCL 700.5504. |
| Durability | A General Power of Attorney in Michigan can be made durable, meaning it remains effective even if the principal becomes incapacitated. |
| Revocation | The principal can revoke the General Power of Attorney at any time, as long as they are mentally competent to do so. |
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