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Ohio Durable (Financial) Power of Attorney Form

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Ohio Durable (Financial) Power of Attorney Form enables a person (principal) to appoint another person (agent) whom he or she trusts to handle financial matters. This ability usually comes into play when long-term planning or precautionary measures must be set in place. Once this paperwork is active, the agent will be able to conduct the principal business matters defined in this document. For instance, the agent can handle the disposition and accumulation of property and assets in the name of the agent. It should be noted this form continues in effect even beyond the time the person making the document becomes incapacitated and can no longer make their own financial decisions.

Laws – § 1337.60

Medical Power of Attorney – A Medical Power of Attorney, appoints a health care representative to handle any decision making in regards to the Principal’s medical treatment.

How to Write

1 – The Ohio Statutory Power Of Attorney Can Be Accessed Then Downloaded Here

Click on the PDF, Word, or ODT to open the document in the format you intend to work with. When ready, open it and supply the required items for its execution. Note: The Principal and Agent should both read the initial passage.

2 – Formally Designate The Agent To Wield Principal Power

Furnish the Principal’s Legal Name on the first available blank line in the “Designation of Agent” section. Document the Agent’s Full Legal Name on the “Name Of Agent” line. Supply the Agent’s Complete Address on the line labeled “Agent’s Address.”Report the Agent’s current Telephone Number in the area provided after the words “Agent’s Telephone Number.”

3 – Setting Up A Successor Agent Can Be Done Here

Many would consider determining and appointing a back-up Agent or Successor Agent to be wise. This is an entity that will be able to assume Principal Power in the event the Agent reported above does not or cannot. The Successor Agent will not have Principal Power unless the Agent’s Principal Power is unavailable. To appoint a Successor Agent, document this or her Name, Street Address, and Telephone Number using the first three blank lines presented in the “Designation Of Successor Agent(s) (Optional)” section.

In some cases, a Second Successor Agent will also need to be named. If so, use the three blank spaces after the statement beginning with the words “If My Successor Agent Is Unable…” to provide his or her Name, Address, and Telephone Number. This party will only be able to wield the defined authority if neither of the previously named Agents can or will.

4 – An Official Grant Of General Principal Authority Can Only Occur Through Principal Action

A grant of General Power does not necessarily mean the Principal is delegating his or her Authority to the Agent in every area of his or her life. While this is possible, it is not mandatory. Find the “Grant Of General Authority” section. A list has been supplied so the Principal can choose which matters are to be delegated to the Agent. If he or she wishes to appoint Principal Authority in all these matters to the Agent, then only the last item “All Preceding Subjects” should be initialed. Otherwise, the Principal must initial each list item that should be included in the Agent’s Principal Authority.

The first part of this list will deal with the Principal’s financial life by listing items that directly affect it. The Principal can grant the Agent with the Principal Power to act in matters of “Real Property,” “Tangible Personal Property,” “Stocks And Bonds,” “Commodities And Options,” “Banks And Other Financial Institutions,” and/or “Operation Of Entity Or Business” by initialing the blank line corresponding to the granted Power.

The next portion of this list will deal with some matters that may be considered somewhat more complicated in nature. By initialing the blank line corresponding to “Insurance And Annuities,” “Estates, Trusts, And Other Beneficial Interests,” and/or “Claims And Litigation” the Principal will delegate that initialed item to the Agent’s Principal Powers.

Finally, the last portion of this list will deal with issues on a more personal level to the Principal. He or she can appoint the Agent with the Principal Authority to act in matters concerning “Personal and Family Maintenance,” “Benefits From Governmental Programs Or Military Service,” “Retirement Plans,” and/or “Taxes” by initialing the item that applies to the Agent’s Principal Powers.

If the Attorney-in-Fact should wield all of these Principal Powers, the Principal should leave all previous items unmarked and initial the last item “All Preceding Subjects.”

5 – The Principal Can Deliver And Apply Additional Instructions On The Use Of These Powers

The Principal can apply provisions or instructions to the Powers he or she is granting the Agent. For instance, by default, there is only one Agent named here and the Starting Date for this document’s Effective Date is the Principal’s Signature Date. Both defaults may be changed by documenting such Principal preferences in the “Special Instructions” section.

6 – Formally Report The Principal’s Preferred Guardian

Sometimes, the Principal issuing this document will wish to take some additional precautions to make sure his or her preferences are met, especially if the court deems the Principal incapacitated and in need of a Guardian or Conservator or both. The “Nomination Of Guardian (Optional)” section shall provide an area where this issue may be addressed. Here the Principal’s choice for a Guardian of his or her Estate and Person may be named. This does not set a Guardian’s entity in stone should the Principal the courts deem a Guardian necessary, however, the court usually takes a Principal’s Nomination into serious consideration.

The first area in this section will accept the Principal Nomination for an Estate Guardian. If the Principal wishes to nominate someone the record the Nominee’s Full Name, Address, and Telephone Number in the area beginning with the label “Name Of Nominee For Guardian Of My Estate.

If the Principal wishes to Nominate a Guardian of his or her person, then record the Nominee’s Name, Address, and Telephone Number on the three blank lines in the area beginning with the words “Name Of Nominee For Guardian Of My Person.”

7 – The Principal Will Sign This Document To Legitimately Execute It

When all the information required by this document has been accurately reported and all the attachments are present and accounted for, the Principal should take the time to review this paperwork one final time then sign it. This act will occur in the “Signature And Acknowledgment” section. Here the Principal must sign the line labeled “Your Signature” then supply the current Date on the line labeled “Date.”

Below his or her Signature, the Principal will need to supply his or her Printed Name, Address, and Telephone Number on the blank lines labeled “Your Name Printed,” “Your Address,” and “Your Telephone Number.”

The area below this will enable a Notary Public to notarize the Principal Signing adequately. This will only occur if the Notary Public’s instructions are followed.

Lastly, on the blank lines labeled “This Document Prepared By,” the individual who filled out this document should present his or her Signature, Printed Name, Address, and Telephone Number.