Kentucky General Power of Attorney

State:
Multi-State
Control #:
US-04099BG
Format:
Word; 
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Description

Agency is a relationship based on an agreement authorizing one person, the agent, to act for another, the principal. For example an agent may negotiate and make contracts with third persons on behalf of the principal. Actions of an agent can obligate the principal to third persons. Actions of an agent may also give a principal rights against third persons.


An agency can be created for the purpose of doing almost any act the principal could do. However, there are some acts that must be done in person and cannot be done by an agent. Examples would be: testifying in court for another individual, making a will, and voting.


A general agent is authorized by the principal to transact all the affairs of a particular kind of business. For example, a person appointed as manager of a store is a general agent.


A special agent is authorized by the principal to handle a particular business transaction or perform a specific act. For example, a specific power of attorney appointing an agent (attorney-in-fact) to sell a particular piece of real estate or a certain car would be the appointment of a special agent.


A universal agent is authorized by the principal to do any act that can be delegated to a representative. An example would be giving a person a general power of attorney. This form is such a general power of attorney.

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FAQ

Under KRS 457.050, the principal must now sign in the presence of a notary public to create a valid POA. Under the prior law, a power of attorney could be executed with the principal's signature in the presence of two disinterested witnesses.

A durable power of attorney is a legal document assigning another person to take care of your affairs for you should you become incapacitated. This person, your agent, usually is enlisted to take care of your financial or healthcare matters.

Difference Between General And Special Power Of Attorney A General power of Attorney is very much different from a Special power of Attorney. The GPA always confers a general power of performing while the Special power of Attorney confers only a specific power to perform any particular act or task.

If a person wants to authorise someone to act as a power of attorney on his behalf, it must be signed and notarised by a certified notary advocate, who is able to declare that you are competent at the time of signing the document to issue the said power of attorney.

To set up a power of attorney, both the agent and principal fill out and sign a power of attorney form....The Kentucky POA document must list the:full contact information and signature of the principal.name and contact information of the agent(s)date the agreement is made.powers granted.when the powers begin and end.

A marriage or legal separation is filed, unless the power of attorney document provides otherwise. Just as under the present law, a power of attorney is not required by the new law to be recorded, unless it is being use to convey, release or transfer any interest in real estate.

What might I traditionally pay to get a Power of Attorney form in Kentucky? The cost of finding and working with a traditional legal provider to write a Power of Attorney could add up to anywhere between $200 and $500.

As of July 14, 2018, the requirements for the execution of Powers of Attorneys in Kentucky have changed. Now all POAs will require two witnesses and a notary. This means the person giving the power (principal) will need to have two disinterested parties sign stating the person is over 18, of sound mind and free will.

How to Get Power of Attorney in KentuckyThe Kentucky POA document must list the: full contact information and signature of the principal. name and contact information of the agent(s) date the agreement is made. powers granted.A notary public must be present and acknowledge the principal's signature.

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Kentucky General Power of Attorney