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A power of attorney (POA) is an important legal tool in which you allow someone else to make crucial decisions on your behalf. This free Nevada power of attorney form template is customizable and allows someone else (typically called an “attorney-in-fact” or “agent”) to make financial decisions for you. Download the form below.
What Is a Power of Attorney?
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.
Who Should Use a Power of Attorney Form?
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.
How to Create a Power of Attorney in Nevada
You must satisfy the following requirements to create Nevada 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 is either notarized or signed before 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.
Types of Powers of Attorney
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 Nevada, 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. In Nevada, this document is called a Durable POwer of Attorney for Health Care Decisions and there is a form provided by the state that you must use. You may wish to nominate an alternate attorney-in-fact in case your primary one is unavailable in an emergency.
Who Can Be an Attorney-in-Fact?
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.
What Are the Signing Requirements for a Power of Attorney Form in Nevada?
Signing requirements vary by state. In Nevada, 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.
Do You Need a Lawyer to Get a Power of Attorney in Nevada?
You can use a template like the one provided above to create a perfectly legal power of attorney in Nevada. 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.
Frequently Asked Questions (FAQs)
Do you need a lawyer to get a power of attorney?
While it’s usually a good idea to consult with a lawyer before you become bound by a POA, you don’t need an attorney to get one. As long as the document complies with all the requirements of California, a lawyer isn’t necessary to create a binding power of attorney.
Who can override a power of attorney?
There are only two ways to override a power of attorney. The principal can override the POA—called “revocation”—as long as they are of sound mind. Your revocation must be in writing and clearly express the intention to end the specific power of attorney.
The other way to override a power of attorney is through court action. A court can remove an agent directly or appoint a guardian or conservator to the principal, who could then revoke the POA themselves.
How do you take power of attorney away from someone?
Anyone besides the principal or their guardian can only take away power of attorney by petitioning the court to intervene. As the principal—or the principal’s legally-appointed guardian or conservator—you can revoke a POA at any time, as long as you are of sound mind. Typically, you need to revoke the agent’s ability to act for you in writing and the revocation must clearly state the intention to revoke the power of attorney.
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