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A Mississippi power of attorney is a legal document that provides the legal authority for an individual, known as an agent or attorney-in-fact, to make financial decisions, healthcare decisions, real estate decisions, or estate decisions on behalf of the individuals granting the authority. A Mississippi POA is most often used during the estate planning process. However, there are other times when 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 Mississippi power of attorney is a power of attorney form that must comply with Mississippi’s power of attorney statutes. Mississippi code specifically outlines the parameters of a legally enforceable power of attorney and ensures that the form, as well as its duties, are protected under the law. Some of the requirements to create a POA include:
The principal has the ability to designate which powers the agent can and cannot exercise on their behalf. The principal also has the legal right to revoke (terminate) the power of attorney as long as they are competent. This remains true even if the power of attorney is durable. Further, a power of attorney is also terminated when:
There are several reasons why someone would desire to use a Mississippi power of attorney to give a person the authority to make decisions related to their personal property, financial institution transactions, tax matters, or their well-being. Some of those reasons include:
Each person’s power of attorney needs may vary. Thankfully, there are several types of power of attorney documents available. Before you choose one, talk with an attorney to determine which POA will best suit your needs. You should also ask how to revoke the document in the event it becomes necessary. Here are the most commonly used Mississippi power of attorney forms.
General Power of Attorney
A general power of attorney grants specific power to handle matters on behalf of the principal.
Durable Power of Attorney
A 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.
Springing Power of Attorney
A springing power of attorney is different from other POAs because it only becomes effective when a certain event occurs.
Limited Power of Attorney
A limited power of attorney grants limited power to whatever the principal specifies. It is also known as a special power of attorney.
Medical Power of Attorney
A medical power of attorney gives the agent authority to make medical decisions on behalf of the principal.
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 case 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 allowing them to buy, sell, and manage real estate on the principal's behalf.
Tax Power of Attorney
A tax power of attorney, officially known as Form 21-002, allows the agent, generally a qualified individual such as an accountant, to prepare and submit tax information to the Mississippi Department of Revenue 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 Mississippi Department of Revenue, Motor Vehicle Services on the principal's behalf.
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