Only one of the statements in the “Effective Date” section can (and must) be initialed by the Principal to declare when the authority being granted to the Attorney-in-Fact is accessible. This can be done quickly by defining the effective date of this document as the Principal’s signature date or as the date, a Physician formally declares the Principal incapacitated and unable to handle financial affairs. (6) Starting Date Or Event. Before proceeding to define what actions the Principal authorizes the Attorney-in-Fact to perform in his or her name, the Kentucky Principal will need to define when such ability will be available to the Attorney-in-Fact. The full name of the Party who must be set to assume the role of the Principal’s Agent (also known as the Attorney-in-Fact) through this document’s execution must be identified. The Indiana Resident is the Private Party seeking to grant the authority needed to act in one or more affairs on his or her behalf in the State of Indiana to a specific Agent should be named as the Issuer of this paperwork. How to Writeĭownload: PDF, MS Word, OpenDocument Indiana Declaration The Indiana Legislature has not provided a sample statutory power of attorney form. The principal is required to sign in the presence of a notary public or before witnesses (( IC 30-5-4-1(a)(4)) Statutory Form (3) A power created on a form prescribed by a government or governmental subdivision, agency, or instrumentality for a governmental purpose (IC 30-5-2-7) Signing Requirements (2) A proxy or other delegation to exercise voting rights or management rights with respect to an entity. (1) A power to the extent it is coupled with an interest in the subject of the power, including a power given to or for the benefit of credit in connection with a credit transaction. The term refers to all types of powers of attorney, including durable powers of attorney, except for the following: “Power of attorney” means a writing or other record that grants authority to an attorney in fact or agent to act in place of a principal, whether the term “power of attorney” is used. The Indiana Code does not define “durable.” Definition of “Power of Attorney” Title 30, Article 5 (Powers of Attorney) Definition of “Durable” Therefore, it is imperative that the person selected as the agent is someone that can be trusted. The “durable” designation means the form remains legal in the event the principal being represented becomes incapacitated. The agent will have ultimate control, if selected, to decide whatever they want to do as far as making business decisions on behalf of the principal. An Indiana durable power of attorney form can be used to appoint a representative or “agent” to exercise control over a person’s finances.
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