Missouri Power Of Attorney Form Template – Forbes Advisor

A power of attorney is a legal document granting one person the right to act on behalf of another person. The person granting this authority is the principal, and the person given this power is the agent or “attorney-in-fact.”

The POA can be limited to a specific area of the principal’s life, for example, a medical power of attorney or a financial power of attorney. It can also be limited in duration or limited based on the state of the principal. If the principal becomes incapacitated, only a “durable” power of attorney will allow the agent to continue to act on the principal’s behalf.

Anyone who wants to ensure that a specific person has the power to act on their behalf should consider a power of attorney. A POA is a powerful, viable tool in any situation where you need someone to act for you. You don’t have to be old or sick.

That said, if someone does become incapacitated, they’re covered. Indeed, if you consult with an estate planning attorney, odds are they will discuss using a power of attorney.

You must satisfy the following requirements to create Missouri power of attorney:

• The principal must be competent, meaning they can make their own decisions.
• The power of attorney must be in writing.
• The document must contain:
  • The name of the attorney-in-fact
  • The responsibilities the principal gives the attorney-in-fact
  • The principal’s signature, which requires either a notarization or two witnesses
  • The date

While not required, you may wish to give copies of the final, signed document to your attorney-in-fact, financial institution and key family members. Store the original in a safe place. Revisit your power of attorney regularly and update it as circumstances change.

Principals can choose from several types of powers of attorney depending on their needs with regard to duration and scope.

Powers of Attorney Based on Capacity

Principals can select the correct type of power of attorney for them depending on whether they want it to take effect immediately, wait until they become incapacitated, and if they want it to end upon their incapacitation or death.

• General or Non-Durable Power of Attorney. A general power of attorney gives the attorney-in-fact permission to act for the principal on a broad range of personal affairs and financial transactions. It automatically ends when the principal either becomes incapacitated or dies.
• Durable Power of Attorney. A durable power of attorney remains in effect if the principal becomes incapacitated. In Missouri, durability is not presumed, meaning a power of attorney will not automatically remain effective if the principal becomes disabled or incapacitated. The document must state “This is a durable power of attorney and the authority of my attorney-in-fact shall not terminate if I become disabled or incapacitated or in the event of later uncertainty as to whether I am dead or alive,” or use similar language.
• Springing Power of Attorney. Unlike general and durable powers of attorney, a springing power of attorney becomes effective only if the principal becomes disabled or incapacitated. It’s also referred to as a “standby power of attorney.”

Limited Powers of Attorney Based on Scope

Limited powers of attorney, as the name suggests, give attorneys-in-fact responsibility over specific topic(s) the principal designates but do not include sweeping rights to make decisions. Common examples include:

• Financial Power of Attorney. With a financial power of attorney, a principal enables an attorney-in-fact to make financial decisions for them, including choices around investments, banking, real estate, loans, insurance and bill-paying.
• Medical Power of Attorney or Durable Power of Attorney for Healthcare. A healthcare power of attorney (called a Durable Power of attorney for Health Care and Health Care Directive in Missouri) allows an attorney-in-fact to make healthcare decisions for the principal, according to their wishes and professional medical advice, when the principal cannot do so for themselves. You may wish to nominate an alternate attorney-in-fact in case your primary one is unavailable in an emergency.

Nearly anyone can serve as an attorney-in-fact. They do not need to be an actual attorney. They do, however, need to be a legal adult and not otherwise incapacitated.

Ensure that the attorney-in-fact is someone you trust. Note that principals may also select backup attorneys-in-fact, in case the primary is unreachable.

Signing requirements vary by state. In Missouri, a power of attorney form must be signed by two witnesses or a notary. Even if your state doesn’t require a notarized signature, it’s still smart to obtain one. It provides an extra layer of validity if someone challenges your power of attorney form.

You don’t need a lawyer to create a power of attorney in Missouri. However, you should seek the help of a trusted attorney to finalize your document to ensure it’s legally sound.