A North Carolina Power Of Attorney is a set of documents by which an individual can legally appoint another to represent him or her in a predetermined matter(s). This type of authority can be granted in a variety of situations and circumstances. For instance, using a durable POA, you can appoint someone to take care of a broad range of financial matters on your behalf, if you become incapacitated. Using a healthcare POA, you can appoint someone to represent your interests by making medical decisions for you should you be incapacitated or otherwise unable to communicate your preferences. Others are used in more limited situations including for motor vehicle transfers and titles or for tax situations. It is important that you review the documents carefully in order to ascertain which document fits your needs.
Types
Durable Power of Attorney – Used when you want to appoint a trustworthy friend or relative to handle your financial affairs. It is often used in long-term planning situations as it continues to be effective even after the person creating the POA becomes incapacitated.
General Power of Attorney – Similar to the durable in that it is for general financial affairs, however, this automatically terminates upon the principal’s incapacity, so depending on your situation and your needs, you would need to decide which type is best for you.
Health Care Power of Attorney – For use in health care situations where you are unable to communicate your wishes to your health care providers. This allows you to appoint someone you know and who knows you to handle those decisions. You will want to make sure the person you appoint is aware of your treatment preferences.
Limited Power of Attorney – Used typically in discrete transactions. For instance, you may anticipate being away when the closing of your vacation home is supposed to take place. This form allows you to appoint someone to handle that transaction while you are away.
Minor Power of Attorney – Form is for use by parents of minor children who, on occasion, may need someone to take care of their kids while they are away. This gives the caretaker the ability to act on the children’s behalf in the event of an emergency or school issue when the parents can’t be reached.
Real Estate Power of Attorney – Allows an individual to have the ability from the landlord to sell negotiate, and close on a piece of real property to their benefit.
Revocation of Power of Attorney – Used when revoking a POA. When revoking a POA it is important to use this form AND inform all relevant parties of the revocation by providing them with this executed document.
Tax Power of Attorney (Form GEN-58) – Type of limited POA which allows you to appoint another, usually a tax professional, to represent your interests in front of the tax authority in North Carolina. The form allows the person to make filings and obtain information on your behalf.
Motor Vehicle Power of Attorney (Form MVR-63) – This is also a limited type of POA that allows you to appoint someone to act for you with the division of motor vehicles in North Carolina.
How to Write
Step 1 – Select Your Form
Select from the list of power of attorney types that best matches your needs. In most cases, an individual will want to have their financial assets and medical needs are taken care of. In such case, the principal would complete the medical and durable forms.
Step 2 – Gather the Necessary Parties
Decide who the parties will be and contact them to see if family members or friends want to serve as agents. If so, they will need to appear and sign the document.
Step 3 – Sign the Power of Attorney
The State of North Carolina has laws in place that require certain signature requirements in order for the documents to be accepted.
- Durable Power of Attorney – Notary
- General Power of Attorney – Notary
- Health Care Power of Attorney – Notary and Two (2) Witnesses
- Limited Power of Attorney – Notary
- Minor Power of Attorney – Notary
- Real Estate Power of Attorney – Notary
- Revocation of Power of Attorney – No Statute
- Tax Power of Attorney (Form GEN-58) – Principal and agent.
- Motor Vehicle Power of Attorney (Form MVR-63) – Notary
Step 4 – Distribute
Make sure more than one (1) party has a copy of the form. This is important in the chance an agent decides to act that does not have the power to do so. If more than one family member or friend knows the terms of the power of attorney it is better for the safety of the principal’s assets.
