A Mississippi general power of attorney is a document that allows an individual (the “principal”) to designate someone they trust to act as their representative and manage their financial affairs. In the document, the principal can specify the authority and duties they wish to grant to their representative (the “attorney-in-fact” or “agent”). Common responsibilities include paying bills, managing real estate, accessing bank accounts, and maintaining the principal’s retirement and insurance plans. All parties must recognize that this power of attorney is non-durable and will terminate if the principal becomes disabled or incapacitated. Mississippi’s laws do not specify a signing requirement for a power of attorney; however, the principal is encouraged to sign the document in the presence of a notary public or two (2) witnesses.
Durable Power of Attorney – Authorizes an agent to execute financial transactions for a principal. Unlike a general POA, a durable power of attorney continues to be effective if the principal becomes disabled or incapacitated.