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In Indiana, a power of attorney (POA) is a document that allows the principal to designate another person to act in their behalf. In order to be valid, a power of attorney must meet certain requirements. You can obtain a power-of-attorney in Indiana for matters relating to finances, health care, minor children, or other circumstances. […]

In Indiana, a power of attorney (POA) is a document that allows the principal to designate another person to act in their behalf. In order to be valid, a power of attorney must meet certain requirements.


You can obtain a power-of-attorney in Indiana for matters relating to finances, health care, minor children, or other circumstances.


Indiana Power of Attorney Requirements


Powers of Attorney in Indiana must comply with these conditions to be valid


:


  • A mentally competent adult must be the principal.


  • The agent should be an adult with mental competence. You can choose co-agents.


  • POAs are usually written and notarized, or signed in the presence of two witnesses. For a medical POA only one witness is required by law. A minor child POA does not require a witness but it is strongly recommended. Even if you already have witnesses, a notary will increase your chances of getting the third party to accept your power of attorney.


  • Your witness cannot be your agent or successor agent or anyone else who receives power or benefits from your POA. They also can’t include spouses or descendents of any of the disqualified individuals.





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Types of Indiana powers-of-attorney


There are three main types of Indiana powers of attorney:

  1. Financial POA The document grants your agent the authority to deal with business and financial issues for you. This includes paying your bills and buying property on your behalf.

  2. Medical POA : The document gives your agent the authority to make decisions on your behalf if you are unable. This includes deciding what treatments or medications you receive, and who treats you.

  3. Power of Attorney over a Minor Child: With this POA, you can choose someone to care for your minor child temporarily for up to twelve months. This type of POA can be used for a variety of reasons, including when a parent is ill or deployed on military duty.


Indiana also recognizes the following subcategories:

  • Power of Attorney: It gives your agent broad authority to manage your financial and business affairs.

  • Durable power-of-attorney: The power of attorneys remains valid, even if the person losing the ability to decide for themselves.

  • Springing Power of Attorney: The POA is only active under specific conditions. For example, if a minor turns 18 or if the principal becomes incapacitated.

  • Limited Power of Attorney: A limited POA gives your agent the authority to handle a transaction or an event only for a short period of time.

  • Power of Attorney for Real Estate: A limited POA allows you to authorize your agent to buy, sell, manage, or refinance your property.



  • Tax Power of Attorney:



    The Indiana Department of Revenue allows someone to file your taxes on your behalf, view your tax information, and communicate with you.


    .

  • Vehicle Power of Attorney: With this type of limited POA, your agent can represent you with regard to titling or registration issues at the Indiana Bureau of Motor Vehicles.


How do I get a Power of Attorney in Indiana


This is what you have to do in order to create a power of attorney that will be valid in Indiana:


  1. Select Your Agent(s)


  2. In your POA document, include any specific powers that you would like your agent’s to have.


  3. Sign the POA before witnesses or notaries public.


  4. Keep your original documents in a secure place.


  5. Provide a copy to your agent, as well as to any financial institutions and medical providers with whom your agent will deal.


  6. If you have given your agent the authority to conduct real estate transactions on your behalf, submit a copy of the POA at the office for land records, also known as the recorder’s office in Indiana.


  7. Update your POA if necessary.


FAQ

What tax implications should I be aware of?


You’ll need a tax power of attorneys (Form POA-1), if you want someone to file your taxes or represent you before the Indiana Department of Revenue. The Indiana Department of Revenue can receive the POA by mail, fax, or electronically.

When does my Indiana Power of Attorney take effect?


If you haven’t created a power of attorney which takes effect at a specific date or when certain conditions are met, it will take effect as soon as the POA is signed, witnessed, and notarized (if needed).

When does my Indiana POA end?


A power of attorney can be terminated if one or more of the following things happen:


  • You can revoke your POA.


  • There is no agent available.


  • The court invalidates a power of attorney.


  • The five-year period has passed (for powers of attorney for tax).


Additionally:


  • Limited POAs expire when the specified date or conditions are met.


  • In the event of incapacitation, nondurable POAs will terminate. All POAs in Indiana are durable unless stated otherwise.

What can my agent do under a Indiana POA for me?


Indiana lets your agent do many things for you. For example:


  • Banking transactions and other financial transactions


  • Manage bonds, stocks, and other securities transactions.


  • How to handle your business or organisation


  • Performing real estate transactions.


  • Administering Retirement Plan Transactions


  • Tax matters to be overseen


  • Receiving government benefits.


  • Making decisions about your medical care on behalf of others

What happens if I act in an unprofessional manner?


Indiana law requires that your agent act in your best interest and keep a record of all actions taken for you over a period of six years. You have the right to ask for a written account of the actions of your agent. The agent must provide this within 60 days. Your agent will be liable for any damages or legal fees if this accounting shows that your agent has taken improper actions. You can always revoke your POA or change it to appoint a new agent if you are unhappy with your agent.