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Steps for Making a Financial Power of Attorney in Rhode Island Create the POA Using a Form, 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 or Attorney-in-Fact. ... File a Copy With the Recorder's Office.

The Power of Attorney (POA) is all about giving the right to act on your behalf to a trusted friend or family member. A Power of Attorney allows the holder of the POA to take clearly defined actions and decisions on behalf of the donor in this case.

A Rhode Island durable financial power of attorney form allows a principal to name an individual, known as the attorney-in-fact, to manage their money and business affairs. With a ?durable? financial power of attorney, the authority of the attorney-in-fact become effective immediately.

A Rhode Island durable statutory power of attorney form is used to transfer authority over financial acts from one person (?principal?) to someone else (?agent?). The principal can choose more than one agent to act on their behalf and select to have them work jointly or severally.

If the power of attorney is granted to a person other than an attorney, certified public accountant, or licensed public accountant, or enrolled agent, it must be witnessed or notarized below.

Stamp Duty for Power of Attorney 500/- is only applicable for registration. In case the General Power of Attorney (GPA) is given to a person other than a close relative for consideration, then stamp duty is chargeable as per the market value of the property concerned or the consideration value, whichever is higher.