 | Nebraska Durable Financial Power of Attorney Form |
The Nebraska durable financial power of attorney form is a document that is provided by the Principal to a delegated Agent for the purpose of conducting any of the Principal’s financials to include real and personal propety. The form will provide information with regard to the powers that the Principal is willing to allow in their absence or during illness.
This document will allow the Principal to select the powers that they wish to grant to their Agent. It will allow the Principal to control their finances until they are prepared to release powers entirely. The document will not allow the Agent to make medical decisions on behalf of the Principal,
If the Principal is uncertain about how this document may affect their estate, they may wish to contact and consult with an attorney who will be able to better inform them about this document so that they will be aware of what they are completing and signing.
This form will not be effective unless and until the Principal signs before a Notary Public. The Principal may revoke this document at their discretion.
How to Write
Step 1 – Designation of Agent – Provide the following information:
- Enter the Principal’s full name
- AND
- Submit the name of the elected Agent
- Their physical address
- Agent’s Telephone Number
Step 2 – Designation of Successor Agent(s) (optional) –
- In the event the original Agent becomes unable or is unwilling to act on behalf of the Principal, name any Successor Agent(s) to serve consecutively, as needed:
- Enter the name of the Successor Agent
- Physical Address
- Telephone Number
Step 3 – Release of Information – The Principal must read the brief statement and check the following boxes that best indicate the powers for which the Principal would like to grant powers as follows:
- Real Property
- Tangible Personal Property
- Stocks and Bonds
- Commodities and Options
- Banks and Other Financial Institutions
- Operation of Entity or Business
- Insurance and Annuities
- Estates, Trusts, and Other Beneficial Interests
- Claims and Litigation
- Personal and Family Maintenance
- Benefits from Governmental Programs or Civil or Military Service
- Retirement Plans
- Taxes
- All Preceding Subjects (includes all items listed above)
Step 4 – Grant of Specific Authority – This section will require especially close attention inasmuch as granting these powers without caution could significantly reduce the Principal’s property and/or change how their property is distributed. The Principal must be certain to check only the specific authority that they truly want to provide to their Agent as follows:
- Create, amend, revoke, or terminate an inter vivos trust
- Make a gift, subject to the limitations of the Nebraska Uniform Power of Attorney Act and any special instructions in this power of attorney
- Create or change rights of survivorship
- Create or change a beneficiary designation
- Delegate to another person to exercise the authority granted under this power of attorney
- Waive the principal’s right to be a beneficiary of a joint and survivor annuity, including a survivor benefit under a retirement plan
- Exercise fiduciary powers that the principal has authority to delegate
- Renounce or disclaim an interest in property, including a power of appointment
Step 5 – Limitation on Agent’s Authority – If the Principal selected the “Power of Personal and Family Maintenance” or the “All Preceding Subjects” in the Grant of General Authority, the Agent will not be able to use their property to benefit the Agent or anyone with whom they offer support unless specified in the Special Instructions section –
- If the Principal would like to offer specifics, enter the instructions in the lines provided
Step 6 – Nomination of Conservator or Guardian (also optional) –
- Should a court make the decision that a Conservator or Guardian must be appointed, the Principal may nominate someone they would feel most comfortable with, taking such a position. By nominating someone the Principal prefers, the Judge will, in fact, take this person into consideration before attempting to appoint someone else.
- Enter the name of the Principal’s Nominee for Conservator of the estate
- Physical Address
- The Nominee’s telephone number
- AND
- Enter the name of a nominee, preferred by the Principal, for a Guardian to care for the Principal’s person
- Guardian’s physical address
- Telephone Number
Step 7 – Effective Date – This document will become effective immediately upon the date of the creation of the document, unless otherwise specifically stated by the Principal
- If the Principal would prefer not to have the document become immediately available to the Agent, enter a date, or state, in the special instructions, that the Principal would prefer not to turn over powers until the Principal becomes incapacitated or incompetent.
Step 8 – Principal’s Signature – Must only be signed before a Notary Public – Enter the following:
- The Principal’s Signature
- Date the signature in mm/dd/yyyy format
- Enter the Principal’s printed or typed name
- Physical Address
- Principal’s Telephone Number
Step 9 – Notarization –
After the Notary Public has had the opportunity to witness the Principal’s signature, the Notary shall then complete the remainder of the document, also affixing the official seal, in acknowledgement of the validity of the signed document.
