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Ag Decision Maker Evaluating Your Estate Plan: extension.iastate.edu/agdm Powers of Attorney and Other Forms of Substitute Decision Making File C454 An important aspect of lifetime transitions and

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How to fill out powers of attorney and

01

Identify the powers you want to grant in the power of attorney. These can include financial, healthcare, property, or legal powers.

02

Choose the type of power of attorney you want to create. This could be a general power of attorney, durable power of attorney, or limited power of attorney.

03

Determine the agent or attorney-in-fact who will have the authority to act on your behalf. This should be someone you trust and who is willing to fulfill their responsibilities.

04

Create the power of attorney document. It should include your name, the agent's name, the powers being granted, and any specific instructions or limitations.

05

Sign the power of attorney document in the presence of a notary public or two witnesses, depending on your jurisdiction's requirements.

06

Distribute copies of the power of attorney to relevant parties, such as financial institutions, healthcare providers, and attorneys.

07

Review and update the power of attorney periodically, especially if there are any changes in your circumstances or relationships.

Who needs powers of attorney and?

01

Individuals who want to ensure their financial matters are taken care of in the event of incapacity or unavailability.

02

Individuals who want to appoint a trusted representative to make healthcare decisions on their behalf if they become incapacitated.

03

Individuals with significant assets or property who want to designate someone to manage and make decisions regarding their property.

04

Business owners who want to appoint someone to handle business-related matters in their absence.

05

Aging individuals who want to plan for their future and ensure their wishes are respected.

06

Individuals who anticipate being unavailable or traveling for an extended period of time and need someone to handle their affairs during that time.

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