 | Michigan Durable Financial Power of Attorney Form |
The Michigan durable financial power of attorney form is a document that will be completed by a Principal to provide powers to an Agent of their choosing to take control, whether temporary or permanent, of their property and finances. The Principal must read this document carefully to ensure that they understand the implications of this document.
If the document is not understood, it’s recommended that the Principal contact and consult with a knowledgeable attorney to ensure that the Principal is acquiring adequate legal advice prior to completion and signing of this document.The Principal may state, in this document, when they would wish to commence with the date that the document will go into effect The Agent will not have the capability of making health care decisions with this document.
The Principal must be advised that they may revoke this document at any time of their choosing. This document will require signatures of two (2) witnesses or a Notary Public in order to be effective.
How to Write
Step 1 – The Principal must review the following:
- Notice
- Instructions
Step 2 – Establish the Principal –
- Type or Print the Name of the Principal
Step 3 – Appointment of Agent – Enter:
- The name of the Agent
- Relationship to Principal
- The complete address of the Agent
- AND
- If the initial agent is unable to serve – Enter the name of a Successor Agent
- Relationship to the Principal
- Successor Agent’s complete address
Step 4 – Effective Date – Select and initial one of the paragraphs:
- My agent has the powers set forth in this document immediately upon my signing it.
- OR
- My agent shall only have the powers set forth in this document when it is determined I am unable to manage my property and financial affairs effectively.
Step 5 – Powers – The Principal must read all of the powers that they are granting to the Agent:
- Banking
- Government Benefits
- Investments
- Retirement Plan
- Taxes
- Insurance
- Real Estate
- Personal Property
- Legal Advice and Proceedings
- Estate Plan
- In the lines provided, enter any added special instructions
- The Principal must also review the “Other Provisions” section
Step 6 – Statement of Signatures and Witnesses –
Witnesses (option 1) –
- Print the names of the Witnesses
- Witnesses must provide their signatures
- Both witnesses must provide their complete, physical address
Notary (option 2) –
- Once the notary has witness all signatures, the notary must then complete the remainder of the document with their information, then acknowledging the document
