Sample Indiana Power of Attorney
What is a Indiana Power of Attorney and How is It Used?
You can save your family pain, guilt, and conflict by preparing a power of attorney (POA) granting an entrusted individual with power over your affairs should things go south. You can also use the document to save you from issues with the IRS by letting your business partner or organization take care of your financials when you cannot.
And that is not all. This legally binding document could be used to authorize someone else to transact in stocks, buy or sell real estate, sell motor vehicles, sue, or collect debt on your behalf. All that is required of you is to get a free Indiana power of attorney form, appoint an agent, and then sign the document to make it legal. You could think of it as an agreement between you and the person you trust. In the agreement, you state who your trusted person is, you lay down your explicit directives, and also put down the date or the event that warrant the actions of the agent. To seal the agreement, both parties need to sign the document, with a notary or adult witnesses present.
The best part is that the free power of attorney form in Indiana will let you determine the level of power you give and you can give limitations beyond which the agent cannot act on your account.
The tricky part, however, is finding someone trustworthy. An individual you know will stick to your directives, and when it comes down to making a tough call that isn’t in the directives, they will make a decision that matches your wishes. But, since the document is legally binding, this shouldn’t be a big issue. Also, most powers of attorney are only executable when you are incapacitated.
Powers of attorney – The Main Types
Indiana Durable Power of Attorney Laws
The statutes in Indiana recognize the durable POA as the document used to make big decisions that relate to your medical care and treatment when you are unconscious. According to the laws of the state, the agent acts as per the directives of the patient to decide on the treatment, care, and whether or not the principal should be hooked to the life-support systems.
The powers of the agent also include giving authority to the attending physicians to treat the patient’s physical or mental condition. The agent also decides on the admission of the principal to a healthcare facility, as well as the disclosure of the patient's medical records to a healthcare facility.
However, the agent’s appointment will not affect the patient’s wishes regarding life-extending procedures if they had them in the living will.
What makes the DPOA executable?
It should be in writing, and you (the principal/ appointer) should sign it in the presence of an adult witness. The document may also state the specific conditions to be acted on by the agent
It should also state the document will only be executable when the principal loses the ability to make sound decisions on matters regarding their health.
What amounts to the revocation of the health care directives?
The powers of the agent are said to revoked if the principal gives their healthcare provider their oral or written notice of revocation of the POA.
The document is also revoked if the principal disqualifies the person named as their agent. This is valid as long as the disqualification is given in writing.
Immunity to attending physicians is given if the attending physician acts in good faith.
Indiana Limited POA Law
Do you have something that will suffer or put you in a pickle if you don’t act on it on time or if you don’t have someone else to make decisions on your behalf if you have to travel for months or if you are physically or mentally incapacitated? How about getting an Indiana limited POA? This legal instrument will give your agent specific powers, and the agent cannot act beyond those powers protecting your other affairs. The document will stay in place for as long as you need it to unless you revoke its powers.
To revoke the limited POA, you are required to send a written and signed revocation notice to your agent, and to the third parties acting on the agent’s directives.
Indiana POA For Stock Transactions Law
Would you like your friend or business partner to trade in stocks, buying and selling the stocks and managing your account when you are unable to because you are physically/ geographically unable to or because you are mentally or physically without control of your faculties? Let Indiana’s specific stock transactions POA help you out. It grants an agent specific powers and the powers are easily revocable using a written revocation notice issued to the agent and affected third parties.
So, which is your preferred type of POA? Whether you live in Indianapolis, Fort Wayne, Evansville, South Bend, Carmel, Fishers, Bloomington, Hammond, Gary or any other city of Indiana, Let’s help you get it today with our power of attorney forms. Fill out the form above to get started.
IN Power of Attorney
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