The Iowa General (Financial) Power of Attorney is the non-durable edition of the standard POA used to delegate authority over one’s capital, property, holdings, etc. Within the form, the person conveying the authority (the “Principal”) is presented with a list of broad powers that they can individually initial to supply to the third party (the “Agent”). If the authority initialed is too extensive, the principal may limit it by providing a description within the indicated area of the form. Once the requested details have been entered and the powers selected, the final action needed involves the executor signing the instrument and receiving the validation of a notary public.
Laws
Statute – A power of attorney terminates when the principal becomes incapacitated if the power of attorney is not durable (§ 633B.110(1)(b)).
Definition – “Power of attorney” means a writing that grants authority to an agent to act in the place of the principal, whether or not the term “power of attorney” is used (§ 633B.102(9)).
Signing Requirements – Acknowledgment of a Notary Public (§ 633B.105)
Additional Resources
- Iowa Department of Aging – Financial Power of Attorney Information
- Iowa Department of Elder Affairs – Power of Attorney Handbook
- Iowa State University – Estate Planning Terms
- Iowa State University – Evaluating Your Estate Plan
- Iowa State University – Finding an Attorney Who Can Work For You
- Iowa State University – POA Vocab Matching Excercise
Related Forms
Advance Directive (Medical POA & Living Will)
Download: Adobe PDF
Durable (Financial) Power of Attorney
Download: Adobe PDF