Create an Indiana Power of Attorney with our customizable template!
An Indiana power of attorney is a legal document that provides the authorization for a person, referred to as the agent or attorney-in-fact, to make financial decisions, healthcare decisions, real estate decisions, or estate decisions on behalf of the person granting this authority. An Indiana POA is most often used for estate planning, but there are other times when it is a useful tool.
Quick Reference:
The person granting permission is referred to as the principal, donor, or grantor.
The person receiving authorization is known as the agent or the attorney-in-fact.
An Indiana power of attorney must comply with Title 30, Article 5 of the Indiana Code. This code specifically outlines the parameters of a legally enforceable power of attorney. It ensures that the form, as well as its duties, are protected under the law. Some of the requirements to create a POA in Indiana include:
The principal has the ability to explain in the POA which powers the agent can and cannot exercise on their behalf. The principal also has the legal right to revoke (terminate) the POA, even if it is durable, as long as they are competent. Additionally, according to Chapter 10 of Indiana Code, a POA terminates when:
There are several reasons why a person would use an Indiana power of attorney form to give another person the authority to make decisions related to their tangible property, financial institution transactions, tax matters, or their well-being. Some of those reasons include:
Every person’s needs for a power of attorney is different. There are several power of attorney documents available. Before you choose one, seek legal advice so that you choose the right one for your needs. You should also ask how to revoke a POA in the event it becomes necessary for you to do so. Here are the most commonly used POAs in Indiana.
General Power of Attorney
A general power of attorney grants an agent broad powers to make decisions on behalf of the principal, including financial decisions.
Durable Power of Attorney
An Indiana durable power of attorney is an "extended version" of a general power of attorney because it goes beyond the parameters of a general power of attorney.
Limited Power of Attorney
A limited power of attorney grants limited power to whatever the principal specifies.
Healthcare Power of Attorney
A healthcare power of attorney, also known as a medical power of attorney, grants power to the agent to make important healthcare decisions on the principal's behalf.
Minor Child Power of Attorney
A minor child power of attorney allows a parent or guardian to grant decision-making rights over their child to a temporary guardian in the event that the parent or guardian may not be present during a medical emergency.
Real Estate Power of Attorney
A real estate power of attorney grants power to the agent to buy, sell, and manage real estate on the principal's behalf.
Tax Power of Attorney
A tax power of attorney, known officially as Form 49357, allows the agent, generally a qualified individual such as an accountant, to prepare and submit tax information to the Indiana Department of Revenue as well as discuss tax matters on behalf of the principal.
Vehicle Power of Attorney
A vehicle power of attorney, officially known as Form 01940, allows the agent to buy, sell, and handle the necessary paperwork with the Indiana Bureau of Motor Vehicles on the principal’s behalf.
Download Word Template
Download PDF
Create Custom Indiana Power of Attorney
Word
PDF
