Indiana General Durable Power of Attorney
An Indiana general durable power of attorney is a document that gives a person the authorization to execute certain actions on your part and take care of certain affairs for a period because you are not able to do so. A "general power of attorney" would cease if a person becomes incapacitated. The "durable" language added to the document actually becomes effective if the person becomes mentally disabled.
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Features
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Two parties exist in an Indiana general durable power of attorney. The "principal," sometimes referred to as the grantor or donor, authorizes the other person to perform acts on her behalf. The "agent," or attorney-in-fact, has the power to act for the principal. The Indiana durable power of attorney requires a written document that has the name of the agent and language that give the agent the power to act on the part of the grantor. The principal must sign the document in the presence of a notary.
Function
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The intent of an Indiana durable general power of attorney may give the agent a specific power or a wide range of responsibilities. Often the document covers financial or health-related matters. Typically, the attorney-in-fact can act without recording the Indiana general durable power with the recorder's office. An exception to the rule occurs when the attorney-in-fact must execute a document that the law requires recording.
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Time Frame
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The durable general power of attorney clause kicks in and allows the attorney-in-fact to act on the behalf of the principal should the grantor becomes mentally incapacitated. The principal can revoke the powers at any before she becomes disabled. The power of attorney becomes effective on the date the principal executes the document unless otherwise stated, such as upon the occurrence of a certain event.
Considerations
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The principal must have the mental capacity to create a general durable power of attorney. Even a principal diagnosed with a disease, such as dementia or Alzheimer's disease, may sign a valid power of attorney document during times of lucidity. The document has validity even if later the person has no recollection of executing the document.
However, at the time of execution the principal must understand the purpose of the document, the identity of the agent and property or decisions the power of attorney covers. A court can rescind a general durable power of attorney if it is established that the agent does not act in the best interest of the grantor or perpetrates illegal acts.
Fees
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The attorney-in-fact has a right to repayment of any monies paid on the part of the principal. The person can also collect fees for any services performed but must submit an invoice to the principal within 12 months after performing the service.
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