Nebraska Power Of Attorney Form Template – Forbes Advisor

A power of attorney is a legal document where one person, referred to as the principal, gives another person, known as the “attorney-in-fact,” authority to make decisions for them. The attorney-in-fact doesn’t need to be an actual attorney, but it should be someone the principal trusts to make sound choices on their behalf.

Powers of attorney can be “durable,” which means they are still in effect if the principal becomes incapacitated or unable to make decisions. Durable powers of attorney typically end with the principal’s death. A general power of attorney that is not durable is no longer effective if the principal becomes incapacitated.

In most states, a power of attorney must be notarized to be effective.

Anyone who wishes to allow another person to make certain financial, healthcare or other decisions on their behalf should strongly consider a power of attorney. They can be an especially useful estate planning tool to protect your wealth if you can no longer manage your finances.

You must satisfy the following requirements to create Nebraska 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 must be notarized
  • The date of execution

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 Nebraska, durability is presumed, meaning a power of attorney will automatically remain effective if the principal becomes disabled or incapacitated.
• 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 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.

Despite the term “attorney-in-fact,” you don’t have to be an attorney to serve in the role. In fact, nearly anyone can be an agent or attorney-in-fact. As long as the person selected is a legal adult and competent, they can serve as an agent.

The most important qualification is not an official one—the attorney-in-fact should be someone the principal trusts. A POA can grant a lot of power to the agent, so it’s essential that the agent be a person likely to do what the principal would prefer.

Signing requirements vary by state. In Nebraska, a power of attorney must be notarized to be valid, so do not sign it until you are in the presence of a notary.

You can use a template like the one provided above to create a perfectly legal power of attorney in Nebraska. You could even write one without a template, as long as it meets all the legal requirements.

Just because you don’t have to have a lawyer draw up your POA, though, doesn’t mean you shouldn’t. A power of attorney can give sweeping powers to the attorney-in-fact, so it’s a good idea to have a qualified lawyer review the document before signing.