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Iowa Durable (Financial) Power of Attorney Form

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Iowa Durable (Financial) Power of Attorney Form is used when you want to make sure someone will have the ability and authority to handle your financial affairs (amongst other matters) if and when you become mentally or physically incapable and unable to do so on your own. This form can also be used if you anticipate being away or unavailable to maintain and handle your affairs. Typically, spouses will be each other’s agent in a power of attorney to facilitate matters if one or the other can’t be available.

Laws – § 633B.301


Health Care Power of Attorney – A healthcare power of attorney is used to elect a healthcare representative.

How to Write

1 –  Obtain And Review the Iowa Form

You may see a preview of this form by clicking the image on the right. If you wish to open the form or save it to your machine, utilize the buttons below this image to gain access to your preferred file type.

2 – Identify Both The Agent And Any Successor Agents

The initial paragraphs of this document should be read by the Principal before proceeding. Then in the section titled “Designation of Agent,” the Legal Name of the Principal should be printed on the first blank line placed just before the words “name the following…”

The Legal Name of the Attorney-in-Fact or Agent must also be presented in this area. Enter the Legal Name of the Agent on the space labeled “Name of Agent.” The “Agent’s Address” should be reported on the next space. Finally, document the Telephone Number on the space after the words “Agent’s Telephone Number.”

 

The next section is titled “Designation of Successor Agent(s) (Optional).” Unlike the first section requiring attention, this one is not mandatory…although it is generally recommended as it will act as a precaution. Here, an individual who will assume the mantle of Principal Agent if the Principal Agent does not fulfill his duties may be named. If the Principal has decided to utilize this option, then record the Legal Name of the Agent on the blank space following the words “Name of Successor Agent.” As with the previous section, enter the Address and the Telephone Number of the Successor Agent on the next two spaces. Make sure both of these items of Contact Information are accurate and up-to-date.

Next, the Principal may name a Second Successor Agent should both the Principal Agent and the Successor Agent aren’t able to act as such. If this individual has been selected, then document his or her Legal Name, Complete Address, and Current Telephone Number on the three blank spaces in this section. Enter each item in this order.

3 – The General Subjects Of Authority Must Be Individually Approved

The Principal will need to review the “Grant of General Authority” section. This section will present the General Areas in his or her life where the Agent may use wield Principal Power. The Principal may approve all such Authorities to the Agent in one fell swoop by simply initialing the last item. This will be the same as initialing all of them. The last item should not be initialed if some of these items have been initialed and others not.

The Principal will approve the Agent’s Principal Authority in his or her “Real Property” matters by initialing the first blank space. The Principal will appoint the Agent with the Authority to make decisions and perform actions (in his or her Name) regarding his or her “Tangible Personal Property,” once the second blank space is initialed by the principal

The Principal should initial the third blank space if he or she intends for the Agent to wield Principal Authority in and with his or her “Stocks and Bonds.”

The Principal’s Authority concerning his or her “Commodities and Options” will be given to the Agent, if the Principal initials the fourth blank space in this list.

The Agent will be able to represent and act as the Principal when it comes to “Banks and Other Financial Institution,” if the Principal initials the fifth blank space.

The Agent will gain be empowered to wield Principal Authority in the Principal’s “Operation of Entity or Business,” once the Principal initials the sixth blank space.

If the Principal wishes to approve the Agent’s Principal Power to extend to his or her “Insurance and Annuities,” the seventh blank space in this list will need to be initialed by the Principal.

The Principal should initial the eighth blank space if he or she intends to approve of the Agent’s Principal Power regarding his or her “Estates, Trusts, and Other Beneficial Interests.”

If the Principal chooses to empower the Agent to wield Principal Authority in his “Claims and Litigation,” then he or she must initial the ninth blank space

The Principal may deliver his or her Authority and Power, regarding “Personal and Family Maintenance,” to the Agent by initialing the tenth blank space in this list

If the Agent should be empowered to wield Principal Authority with the Principal’s “Benefits from Governmental Programs or Civil or Military Service,” the Principal will need to initial the eleventh blank space in this list.

If the Principal wishes the Agent to have Principal Power in his or her “Retirement Plans,” the Principal will need to provide this approval by initialing the twelfth blank space.

If the Principals intends to have the Agent wield Principal Authority in regards to his or her Taxes, the thirteenth blank space must be initialed by the Principal.

The Principal may approve all these statements by simply initialing the last blank space.

4 – Specific Actions Of Authority May Be Approved At Principal’s Discretion

If the Principal prefers, some additional specifications may be made by addressing the “Grant of Specific Authority (Optional)” section. Each statement here will define specific actions the Agent may take with Principal Approval or Principal Authority.

In the first statement, the Principal will allow the Agent to act upon revocable inter vivos trusts (pending the approval of the trust) by initialing the blank space preceding it.

The Principal may also allow the Agent to use Principal Power to amend or terminate other inter vivos trusts by initialing the blank line preceding the second statement.

The Agent will be able to make a gift to other parties (excluding him or herself and other Agents) if the Principal initials the blank space preceding the third statement.

The Principal may deliver the Principal Authority in making gifts to the Agent upon the third party approval by initialing the blank space preceding the fourth statement and entering the name of the third party (who the Agent must gain written approval from) in the space following the words “…written by” The Principal will empower the Agent to make gifts to Agents, without approval from another party, by initialing the fifth blank space.

 

If the Principal wishes to empower the Agent to select and Authorize another party to wield the Principal Authority defined in this document then, he or she should initial the sixth blank space.

If the Principal initials the seventh blank space, he or she will appoint the Agent with the Principal Authority necessary to waive Principal rights to be a beneficiary (in join/survivor annuities).

When the Principal initials the eighth blank space, the Principal Authority to utilize his or her Fiduciary Powers (in the Principal’s control) will be delivered to the Agent.

The Agent will have the Principal Authority required to disclaim/refuse property interests including power appointments in the name of and on behalf of the Principal if the Principal initials the last item.

5 – The Principal’s Option To Document Special Instructions

The Principal may decide that while the Powers in this document generally should apply that some or all may be subject to certain provisions of the Principal’s choosing. For instance, this document will automatically go into effect once a Notarized Principal Signature is completed. However, if the Principal wishes to name specific Time Periods for any or all of these Authorities to be available, it may be done on the blank lines in the “Special Instructions(Optional)” section. The Principal retains all rights in imposing limitations or restrictions or providing extensions or circumstances. In addition to this, the Principal may choose to Name an individual who may hold any Agent accountable by entering this party’s Legal Name on the blank line just above the words “Shall have the Authority to request an accounting of any Agent” This section is optional.

6 – The Principal’s Option To Nominate A Conservative Or A Guardian

The Principal may wish to safeguard his or her interests by placing a Nomination for the Court’s consideration in the event a Conservator of Estate or Guardian of Person is ever appointed. If so, this section may be filled out. If the Principal does not wish to make such a Nomination this section may be left blank.

The first three blank lines in this section have been provided so the Principal’s Nomination for the Conservator of Estate may be documented. This will require the Nominee’s Legal Name on the first blank line, the Nominee’s Address on the second blank line, and the Nominee’s Telephone Number on the third blank line.

If the Principal wishes to Nominate a Guardian of his or her Person, this may be done by entering the Nominee’s Legal Name, Address, and Telephone Number on the blank spaces labeled “Name of Nominee for Guardian of my Person,” “Nominee’s Address,” and “Nominee’s Telephone Number” (respectively).

7 – The Principal Must Provide A Notarized Signature To Execute This Document Correctly

The Principal will be provided several blank lines to fill out in the “Signature and Acknowledgment” section. Here the Principal must sign his or her Name and record the Date of Signing on the blank spaces labeled “Your Signature” and “Date.”

Next, the Principal must clearly present his or her Printed Name, Address, and Telephone Number on the blank spaces designated as “Your Name Printed,” “Your Address,” and “Your Telephone Number.”

Three additional parties will need to participate in finalizing this document’s execution. The Notary Public will be provided some space to record and verify several facts regarding the Principal’s Signing and stamp the document with the appropriate seal.

The statement “This document prepared by” will require the Legal Name of the Preparer to be entered.

Section 2 will provide some “Important Information For Agent,” but will also require some participation on the Agent’s part. The Agent will need to first print fill in the Principal’s Name then sign his or her own name on the first and second blank lines in this section (respectively).

 


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