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POA 1 Indiana Department of Revenue State Form 49357 (R5 / 214) POWER OF ATTORNEY 1. Taxpayer Information DBA Name(s) (if applicable) Taxpayer(s) Name(s) Address New Address? City State Zip Code Telephone

How to fill out power of attorney

How to fill out power of attorney

1. Understand the purpose of a power of attorney: It is a legal document that allows someone, known as the agent or attorney-in-fact, to make decisions and act on behalf of another person, known as the principal.
2. Gather the necessary documents: You will need the power of attorney form, which can be obtained online or from an attorney. Additionally, gather identification documents for both the principal and the agent.
3. Choose the type of power of attorney: There are different types, such as general, durable, limited, and medical power of attorney. Determine which type suits your specific situation.
4. Complete the power of attorney form: Fill in the required information, such as the names of the principal and agent, their contact details, and the powers granted to the agent.
5. Sign the power of attorney: Both the principal and agent must sign the document in the presence of a notary public or witnesses, depending on your jurisdiction's requirements.
6. Distribute copies: Make copies of the signed power of attorney and provide them to relevant parties, such as banks, financial institutions, and healthcare providers.
7. Revise and update as needed: Review the power of attorney periodically and make modifications if necessary. It is important to keep it current and reflect any changes in circumstances.

Who needs power of attorney?

1. Individuals who frequently travel or reside in another country may need a power of attorney to authorize someone to handle their financial or legal matters in their absence.
2. Elderly individuals who may require assistance with managing their finances, paying bills, or making healthcare decisions may benefit from a power of attorney.
3. Parents may need to establish a power of attorney to temporarily delegate decision-making authority for their children in case of unforeseen circumstances or travel.
4. Anyone who wants to designate a trusted person to handle their affairs in case they become incapacitated or unable to make decisions for themselves should consider a power of attorney.
5. Individuals entering into a business partnership or joint venture may find it necessary to establish a power of attorney to allow their partner to make decisions on their behalf.
6. People facing a major surgery or medical treatment may want to have a medical power of attorney to designate someone to make healthcare choices if they are unable to do so.

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What is power of attorney?

Power of attorney is a legal document that allows someone to make decisions on behalf of another person, typically in financial or legal matters.

Who is required to file power of attorney?

A person is required to file power of attorney if they want to delegate decision-making authority to someone else.

How to fill out power of attorney?

To fill out power of attorney, you need to include the names of both parties, details of the decision-making authority being granted, and signatures from both parties.

What is the purpose of power of attorney?

The purpose of power of attorney is to give someone else the legal authority to make decisions on your behalf, particularly in situations where you may be unable to do so yourself.

What information must be reported on power of attorney?

The information reported on power of attorney typically includes the names of the parties involved, details of the decision-making authority being granted, and signatures from both parties.