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A Nebraska power of attorney is a legal form that acts as the authorization for an individual, referred to as an 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 Nebraska POA is most often used as an estate planning tool, but there are many other instances 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.
The Nebraska Uniform Power of Attorney Act sets out the parameters of a legally enforceable power of attorney and ensures that the form, as well as its duties, are protected under the law. Here are some of the legal requirements of Nebraska’s statutory power of attorney:
The Nebraska Legislature provides a statutory power of attorney for anyone to use.
The special instructions mentioned are the powers the agent may and may not use on behalf of the principal. Additionally, principals have the legal right to withdraw the POA provided that they are considered to be legally competent. Other reasons a power of attorney will be revoked or terminated include:
There are many reasons why someone would use a Nebraska power of attorney form to give someone the power to make decisions related to their tangible property, financial institution transactions, tax matters, or their well-being. A few of those reasons include:
Each person’s power of attorney needs may vary. Thankfully, there are several types of POAs available. Before you decide which to use, you should seek legal advice. Ask about which POA is best for your needs as well as how to revoke it if it becomes necessary to do so. Here are the most common Nebraska power of attorney forms.
General Power of Attorney
A general power of attorney grants an agent the fiduciary power to make decisions 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.
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 grants power to the agent to make important healthcare decisions on the principal's behalf. It is also known as a medical power of attorney.
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 form allows the agent, generally a qualified individual such as an accountant, to prepare and submit tax information to the Nebraska 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 Nebraska Department of Motor Vehicles on the principal’s behalf.
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