An Indiana general power of attorney is a document that allows a principal to appoint someone they trust to act in their place and manage their affairs. In the document, the principal designates their representative (the “agent” or “attorney-in-fact”) and specifies the powers assigned to them. For example, the agent may be responsible for conducting banking transactions, buying and selling real estate, making donations, and entering into contracts with third parties. Since this power of attorney is non-durable, it will automatically terminate if the principal loses their ability to make competent decisions. Moreover, the principal’s signature must be written in the presence of a notary public, who must also sign the power of attorney form.
Durable Power of Attorney – This document functions similarly to a general power of attorney but will remain effective if the principal becomes incapacitated.