Why Powers of Attorney Should Be Notarized
What is a power of attorney?
A power of attorney is a legal document in which you (the “grantor) give someone you trust (called your “attorney”) the right to make decisions for you if something happens and you are no longer able to look after matters on your own. There are two main types of power of attorney.
A power of attorney for personal care lets your attorney make personal care and medical decisions on your behalf if you become mentally incapable of making them for yourself.
A continuing power of attorney for property lets your attorney manage your financial affairs and allows the person you name to act for you even if you become mentally incapable. This includes managing your bank accounts, making bill and rent payments and making purchases on your behalf.
What are the signing requirements for powers of attorney?
Powers of attorney must be signed by the grantor in the presence of two witnesses. The witnesses must also sign the power of attorney in the presence of the grantor. The witnesses can’t be the attorney or their spouse or partner; your spouse, partner, or child, or someone that you treat as your child; a person whose property is under guardianship or who has a guardian of the person; or a person under the age of 18.
Do powers of attorney need to be notarized?
No, it is not a legal requirement for powers of attorney to be signed by a notary. However, it is a very good idea to get your powers of attorney notarized.
Many organizations, such as banks and financial institutions, will not accept a power of attorney that is not notarized. It is strongly recommended that a notary act as a witness when you sign your powers of attorney to minimize the risk that an institution will reject your powers of attorney.
It is also a good idea to contact your bank and financial institutions to clarify what requirements they have, if any, for powers of attorney.
My power of attorney isn’t notarized – what can I do?
If you’ve already signed your powers of attorney without a notary, that’s okay – you have two options.
One, one of your witnesses can complete an affidavit of execution and get it notarized. An affidavit of execution is a sworn statement that sets out the circumstances in which you signed your power of attorney, such as the date of signing and the name of the other witness. The notary will also notarize the original copies of your powers of attorney as exhibits to the affidavit.
Two, you can sign new copies of your powers of attorney in the presence of a notary public. The notary will add their signature and notary seal to the powers of attorney. If you choose this option, make sure your new powers of attorney include a statement revoking all prior powers of attorney.
LET JURIS NOTARY HELP
Do you need to consult with someone about your legal matters or need to get any documents notarized? Get in touch with Juris Notary, and we’ll be happy to help you out or point you in the correct direction if need be.
