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New Jersey General (Financial) Power of Attorney

A New Jersey general power of attorney is a form that allows a person (principal) to grant another individual (agent) the authority to act on their behalf in financial matters. It differs from a durable power of attorney in that it becomes void if the principal is found to be incapacitated.
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Updated August 21, 2024

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Laws

  • Durable – A power of attorney is durable if it contains the words “this power of attorney shall not be affected by subsequent disability or incapacity of the principal, or lapse of time,” or ” this power of attorney shall become effective upon the disability or incapacity of the principal,” or similar words showing the intent of the principal that the power of attorney is durable.[1]
  • Incapacity – or “disability,” unless otherwise defined within the POA, means that a person is unable to manage his or her property and affairs effectively.[2]
  • Signing Requirements – The Principal and one Witness must sign and the document must be notarized.[3]

Sources

  1. N.J. Stat. § 46:2B-8.2(b)
  2. N.J. Stat. § 46:2B-8.2(c)
  3. N.J. Stat. § 46:14-2.1