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The Kentucky General (Financial) Power of Attorney issues another individual the authority to act as the principal so that they may accomplish certain tasks in the granting party’s name. These tasks or duties can be related to the primary individual’s money, property, business, benefits, and liabilities (among other things). The one key factor that should be noted about this form is that it does expire if the principal is ever deemed legally incapacitated, unlike the durable POA. This instrument can be activated by inserting the requested details in each field, initialing each desired power, and signing it as demanded by Kentucky law.

Laws

Statute – “A power of attorney terminates when the principal becomes incapacitated if the power of attorney is not durable.” (§ 457.100(1)(b))

Definition – “Power of attorney” means a writing or other record that grants authority to an agent to act in the place of the principal, whether or not the term power of attorney is used (§ 457.020(7)).

Signing Requirements – Acknowledgment of Notary Public (§ 457.050(2))