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A Michigan power of attorney is a legal document that acts as 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. A Michigan POA is often used for estate planning. However, there are other instances where a POA 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.
A Michigan power of attorney must comply with Michigan’s power of attorney laws, known as MCL Chapter 700. It 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 power of attorney document include:
The principal can explain in the body of the POA the exact powers that the agent can and cannot exercise on their behalf. The principal also has the legal right to revoke (terminate) the power of attorney, even if it is durable, as long as they are competent. Additionally, the POA is terminated when:
There are many reasons why someone would use a Michigan power of attorney to give a person the authority to make decisions related to their property, financial institution transactions, tax matters, or their well-being. Some of those reasons include:
Every person’s need for a power of attorney varies. There are several types available. Before you decide to use a power of attorney, seek legal advice and ask about which is best for your needs as well as how to revoke the POA if it becomes necessary. Here are the most common Michigan powers of attorney.
General Power of Attorney
A general power of attorney grants a single individual to take any action on behalf of the principal, including making financial decisions.
Durable Power of Attorney
A Michigan 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.
In many cases, an agent will have power to make financial decisions, or make medical decisions, but will not have authority to do other things such as handle real estate transactions (depending on what the principal decides). Just like a general power of attorney, the authority terminates if the principal dies or becomes incapacitated. It also terminates if the purpose of the document is fulfilled or if the principal revokes it.
Patient Advocate Designation
A patient advocate designation is also known as a healthcare power of attorney and grants power to the agent to make important healthcare decisions on the principal's behalf.
Guardian of Minor Power of Attorney
A guardian of minor power of attorney allows a parent or guardian to grant decision-making rights over their minor child to a temporary guardian in the instance that the parent may not be present during a medical emergency.
Tax Power of Attorney
A tax power of attorney allows the agent, generally a qualified individual such as an accountant, to prepare and submit tax information to the Michigan Department of Treasury on behalf of the principal.
Vehicle Power of Attorney
A vehicle power of attorney allows the agent to buy, sell, and handle the necessary paperwork with the Michigan Secretary of State on the principal’s behalf.
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