This General Durable Power of Attorney is a general, durable power of attorney which is effective IMMEDIATELY. 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. This form complies with all applicable state statutory laws.
Louisville Kentucky General Durable Power of Attorney for Property and Finances or Financial Effective Immediately
Category:
State:
Kentucky
City:
Louisville
Control #:
KY-P003A
Format:
Word;
Rich Text
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Description
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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.
How to Get Power of Attorney in Kentucky. To set up a power of attorney, both the agent and principal fill out and sign a power of attorney form. Chapter 457 of the Kentucky Revised Statutes, known as the Uniform Power of Attorney Act, governs powers of attorney within the state.
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.
Do I need a lawyer to prepare a Power of Attorney? There is no legal requirement that a Power of Attorney be prepared or reviewed by a lawyer. However, if you are going to give important powers to an agent, it is wise to get individual legal advice before signing a complicated form.
How to Get Power of Attorney in Kentucky 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.A notary public must be present and acknowledge the principal's signature.
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.
A POA must be signed in the presence of two disinterested witnesses. This is a change from the prior law and uniform act, which do not require any witnesses.
Generally, there are no formalities for POAs and they may be given orally or in writing. However, if the act which the Principal requires the Agent to perform has certain prescribed formalities, then the POA will need to comply with the same formalities.