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This General Durable Power of Attorney for Property and Finances Effective upon Disability form is a general, durable power of attorney which is effective ONLY upon the principal's disability, incompetency or incapacity. You can use this form to appoint an attorney-in-fact (agent) to make decisions regarding property, financial, management, banking, business and other matters for you. The powers granted to an Agent in this Power of Attorney are very broad, but do NOT provide for health care services.
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Interesting Questions
A Durable Power of Attorney for finances in New Jersey is a legal document that grants someone the authority to make financial decisions on your behalf if you become mentally or physically incapable.
'Durable' in Durable POA signifies that the authority granted to the designated person remains in effect even if the grantor becomes incapacitated.
Any adult of sound mind who is a resident of New Jersey can create a Durable POA for finances.
You can name anyone you trust as your agent, such as a family member, friend, or attorney.
An agent has the legal duty to act in your best interests, manage your financial affairs, pay bills, make investment decisions, and handle assets as stated in the POA document.
It depends on your preference. You can choose for it to take effect immediately upon signing or only when a specific event, like incapacity, occurs.
Yes, you can revoke or change a Durable POA for finances at any time, as long as you are mentally competent to do so.
Yes, a regular POA becomes void if the grantor becomes incapacitated, while a Durable POA remains valid and effective in such situations.
No, New Jersey law does not require notarization for a Durable POA to be valid. However, it is advisable to have it notarized to prevent potential issues.
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