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An Ohio power of attorney is a legal document that acts as the authorization for a person, 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. An Ohio POA is often used as an estate planning tool. Yet, there are other instances where a POA is also used.
Quick Reference:
The person granting permission is referred to as the principal, donor, or grantor.
The person receiving authority is known as the agent or the attorney-in-fact.
An Ohio power of attorney is a power of attorney form must comply with Chapter 1337 of Ohio Revised Code. These laws specifically outline the parameters of a legally enforceable power of attorney and ensures that the statutory form, as well as its duties, are protected under the law. Here are some of the state’s power of attorney requirements:
The principal may revoke (terminate) the power of attorney as long as they are competent. This remains true even for durable powers of attorney. According to the Ohio Bar website, if the POA included the power to handle real estate, the revocation should be filed with the county recorder where the property is located. Additionally, a power of attorney is also terminated when:
There are many reasons why a person would use an Ohio power of attorney form to give another person 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:
Every person’s power of attorney needs can be different. There are several types of powers of attorney available. Before you decide to use a POA, get legal advice to determine which will best suit your needs as well as how to revoke a power of attorney in the event it becomes necessary for you to do so. Here are the most commonly used Ohio power of attorney forms.
General Power of Attorney
A general power of attorney grants broad power to a single agent.
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 states in the special instructions.
Medical Power of Attorney
A medical power of attorney is used to appoint an agent to make medical decisions for 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 minor child to a temporary guardian in the instance 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 that allows them to buy, sell, and manage real estate on the principal's behalf.
Tax Power of Attorney
A tax power of attorney allows the agent who is usually a qualified individual such as an accountant, to prepare and submit tax information to the Ohio Department of Taxation 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 Ohio Department of Public Safety, Bureau of Motor Vehicles on the principal's behalf.
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