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Indiana General (Financial) Power of Attorney

An Indiana general power of attorney allows a person to legally authorize another individual to represent the issuer in financial matters or generally manage their affairs. This form is different from the durable power of attorney in that it will automatically become void if the listed principal becomes disabled or deemed incompetent.
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Updated August 20, 2024

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Laws

  • Durable – A power of attorney may only be revoked in writing, signed by the Principal.[1]
  • Incapacity – Means an individual who:[2]
    • cannot be located
    • cannot manage their property or provide self-care because of insanity, mental illness, mental deficiency, physical illness, infirmity, habitual drunkenness, excessive use of drugs, incarceration, confinement, detention, duress, fraud, undue influence of others on the individual, or other incapacity
    • has a developmental disability
  • Signing Requirements – The document must be signed by the principal (or at the principal’s direction) in the presence of a notary public or at least two witnesses. When signed in the presence of witnesses, the power of attorney must include specific language detailed in the Indiana Code. Additionally, witnesses cannot have an interest in the power of attorney nor can the principal be a spouse or descendent of a witness.[3]

Sources

  1. § 30-5-10-1
  2. § 29-3-1-7.5
  3. § 30-5-4-1.3