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Agreements can be set up to pass along authorizations connected to financial holdings, allowing another person to conduct tasks related to one’s property, bank accounts, or government benefits. An advance directive can be used to preemptively assign preferences for health care treatments and designate an attorney-in-fact to speak on behalf of the declarant should they become incapacitated. Some POA contracts offer broad sweeping rights to the named agent, while others can be limited to one or more specified actions. The sanctioned agency provided by the POA documents essentially bestows a person’s inherent controls to another, therefore it is advised that the selected agent is vetted before moving forward with a transaction of this nature.
Laws
Statutes – New Jersey Revised Statutes – Revised Durable Power of Attorney Act (§ 46-2B-8.1 – 46-2B-19) and New Jersey Revised Statutes – New Jersey Advance Directives for Health Care Act (§ 26-2H-53 – 26-2H-78)
Definition – “Power of attorney” is a written instrument by which an individual known as the principal authorizes another individual or individuals or a qualified bank within the meaning of P.L.1948, c.67, s.28 (C.17:9A-28) known as the attorney-in-fact to perform specified acts on behalf of the principal as the principal’s agent (§ 46-2B-8.2(a)).
Signing Requirements – Many of the different POA types call for individualized instruction concerning acknowledgment of each document’s execution. The general financial contracts require notarization and confirmation by one (1) witnessing party at the time of signing (§ 46-2B-8.9 and § 46-14-2.1). For those forms pertaining to health care authorization, either a notary or two (2) acceptable witnesses must verify the event (§ 26-2H-56). Review specific directions below for the necessary signing conditions for other related agreements.
Revocation – § 46-2B-8.10 and § 26-2H-57
By Type (11)
- Advance Directive (Medical POA & Living Will)
- Durable (Financial) Power of Attorney
- General (Financial) Power of Attorney
- Limited (Special) Power of Attorney
- Living Will
- Medical Power of Attorney
- Minor Child Power of Attorney
- Motor Vehicle Power of Attorney
- Real Estate Power of Attorney
- Revocation of Power of Attorney
- Tax Power of Attorney
Advance Directive (Medical POA & Living Will) – Fuses two separate agreements designed to set forth one’s health care wishes and name a chosen individual as medical attorney-in-fact.
Download: PDF
Signing Requirements: Acknowledgement requires confirmation of endorsement(s) from either two (2) suitable witnesses or a notary public.
Durable (Financial) Power of Attorney – Determines a signified legal account granting a person to receive agency connected to another’s financial holdings. The terms of this contract designate that the arrangement will remain in place even if the principal becomes incapacitated.
Download: PDF, Word (.docx)
Signing Requirements: Proper acknowledgment obligations will dictate that the paperwork must be signed with the assistance of both a notary and one (1) qualified witnessing individual.
General (Financial) Power of Attorney – Ensures requisite documentation to successfully issue rights to conduct business related to a declaring party’s financial assets, insurance policies, or legal affairs.
Download: PDF, Word (.docx)
Signing Requirements: Acknowledgement from one (1) disinterested witness and a notary necessitated for effective execution
Limited (Special) Power of Attorney – Furnishes a concrete understanding to supply an agent the right to perform specified tasks linked to a principal’s selected resource(s) or legal matters.
Download: PDF, Word (.docx)
Signing Requirements: Acknowledgement via legitimate notarization must be accompanied by the signature of an appropriate witnessing individual.
Living Will – Consists of an official log to record one’s wishes regarding medical treatment preferences.
Download: PDF
Signing Requirements: Acknowledgment demands instated by the state of New Jersey obligate the form to be notarized by a licensed notary or witnessed by two (2) approved outside parties.
Medical Power of Attorney – Defines the commitment to assign agency to an individual on medical decision-making for another.
Download: PDF
Signing Requirements: Acknowledgment from an attorney/notary or corroboration from two (2) witnessing parties is needed to finalize the arrangement.
Minor Child Power of Attorney – An arranged understanding makes it possible for a parent to temporarily give parental powers to another adult to care for a child.
Download: PDF
Signing Requirements: Acknowledgement should include corroboration from two (2) witnesses and a notary.
Motor Vehicle Power of Attorney – Dispenses agency for an attorney-in-fact to act on behalf of a person or business entity for business related to a car, van, or truck.
Download: PDF, Word (.docx)
Signing Requirements: Acknowledgement through certified notarization finalizes the transaction.
Real Estate Power of Attorney – Formally nominates an appointed party to acquire authorization to manage, sell, purchase, and/or refinance property owned by another person.
Download: PDF
Signing Requirements: Acknowledgment specifications according to state ordinances imply that notarization with the supplemental endorsement of a disinterested witness must be received.
Revocation of Power of Attorney – Provides a legal filing to invalidate a currently accepted POA agreement.
Download: PDF, Word (.docx)
Signing Requirements: State acknowledgment requirements mandate that the principal endorse the form before a notary and a secondary witness.
Tax Power of Attorney (Form M-5008-R) – Reports initiation of signified agency to a tax or legal specialist.
Download: PDF
Signing Requirements: Acknowledgement from each taxpayer and selected agent must be recorded.
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