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What is a Nevada Power of Attorney?

A Nevada power of attorney is a legal form that acts as the authorization for an individual, known 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 Nevada POA is often used for estate planning. 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.

 

NV POA Laws:

A Nevada power of attorney is a power of attorney form that must comply with Chapter 162A Nevada’s statutes, also known as the Uniform Power of Attorney Act (NRS 162A). This act 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. Here are some of the state’s power of attorney requirements:

  • The POA must be signed by the principal.
  • The principal must be at least 18 years of age
  • The principal must be of sound mind and understand what they are signing.
  • The form must be signed by two adult witnesses:
  • Both witnesses must personally know the principal.
  • Neither witness can be a healthcare provider or facility member.
  • At least one witness cannot be related by blood, marriage, or adoption. The witness cannot be eligible to receive anything from the principal when they die.
  • The POA used must be the standard, state-provided form or substantially similar.

According to an informational brochure PDF provided by the State Bar of Nevada, there is no requirement to have a Nevada durable power of attorney, financial power of attorney, springing power of attorney, healthcare power of attorney, or any other POA signed in front of a notary public.

A principal has the ability to specifically state which powers the agent may and may not exercise. The principal may also decide if they’d like to revoke the POA, they may do so.

In the State of Nevada, a power of attorney is terminated when:

  • The principal revokes the POA in writing and has the document notarized.
  • The principal dies.
  • The principal becomes incapacitated and the power of attorney is not durable.

Why Would You Use a Nevada Power of Attorney Form?

There are several reasons why someone would use a Nevada power of attorney form to give someone the ability to make decisions related to their tangible personal property, financial institution transactions, tax matters, or their well-being. Some of those reasons include:

 

  • Age, mental health reasons, and illnesses. They may want their affairs handled in specific ways. It is generally advised that everyone, including those who are terminally ill and those in perfect health, establish the right powers of attorney to have their matters appropriately handled and their wishes fulfilled.
  • A person with a mental illness may require a different type of power of attorney than a person with a mental illness.
  • A person with dependent children may need a different power of attorney than someone with no dependent children.

 

Each person’s power of attorney needs may vary. Thankfully, there are several types of power of attorney forms available. Before you decide to use a power of attorney, seek legal advice. Ask about which POA is best for your situation. You should also ask how to revoke a power of attorney if it becomes necessary. Here are a few of the most common.

General Power of Attorney

A general power of attorney grants a single agent the ability to make decisions on behalf of the principal.

  • This authorization terminates if the principal becomes incapacitated, if the principal dies, or if the principal revokes the POA.

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.

  • A durable power of attorney is mentioned specifically under Nevada law. The term "durable" comes from the fact that the agent's authority continues even if the principal becomes disabled or incapacitated.

Limited Power of Attorney

A limited POA is also known as a special power of attorney. 

  • It grants limited power to whatever the principal specifies. In many cases, an agent will have power to handle finances or make medical decisions, but will not have authority to do other things such as sell property (depending on what the principal decides). The POA expires when the principal becomes incapacitated, disabled, or dies.

Medical Power of Attorney

A medical power of attorney grants power to the agent to make important health care decisions on the principal's behalf.

  • It does not allow for end-of-life decisions. It is not the same as a living will or advance directive, which are used if the principal becomes incapacitated or unable to make such decisions. For instance, if the principal were to suffer from Alzheimer's or dementia and not be one the right frame of mind to give medical consent for certain treatments. In fact, once an advance direction is created, it should be placed on file with the Nevada Secretary of State's Advance Directive Registry.

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 may not be present during a medical emergency.

  • This document is generally used if the parent must leave the country for a period of time. It may also be used if the child is temporarily living or traveling with another adult.

Real Estate Power of Attorney

A real estate power of attorney allows the agent to buy, sell, and manage real estate on the principal’s behalf.

  • Before you decide to use a real estate power of attorney, you should make an appointment with a law firm to get legal advice to ensure that the POA you choose will work best for your specific needs. This POA is flexible. It can be durable or non-durable. It can be limited or general.

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 Department of Taxation on behalf of the principal.

  • The agent may also answer questions on behalf of the principal.

Vehicle Power of Attorney

A vehicle of power of attorney, initiated in Nevada by Form VP 136, allows the agent to buy, sell, and handle the necessary paperwork with the Nevada Department of Motor Vehicles on the principal’s behalf.

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