 | North Carolina Durable Financial Power of Attorney Form |
The North Carolina durable financial power of attorney form is a document in which a Principal shall provide one or more Agent’s the ability to essentially take over the financials and property of the Principal. Inasmuch as this document is often described as “broad and sweeping,” care should be taken by the Principal with regard to what powers they would truly wish to assign to their Agent(s). “Broad and sweeping,” which is not clarified in this document, will allow the Agent to spend the Principal’s money from any account, dispose of all property, personal and real property with or without the permission of the Principal. It is vital that the Principal make revisions if possible. Consider a blank sheet to limit or restrict certain acts, if necessary.
This document will not provide powers for the Agent to dictate or make any decisions with regard to the Principal’s health care.
Inasmuch as there is little explanation as to the true understanding contained within this document, it would be strongly recommended that the Principal, prior to completion and application of signature, either consider a more detailed powers document, specifically spelling out minute details or seek the advice and direction of a knowledgeable attorney. Once the Principal feels they understand what they need to know, complete the document.
This document shall not be effective without signature(s) applied before an NC licensed, Notary Public. This document may be revoked at the discretion of the Principal at any time, by serving revocation notice to the Agent(s).
How to Write
Step 1 – The Parties – The Principal must first review the top paragraphs of this document. If understood and in agreement, enter the following information:
- Enter the State (North Carolina)
- Enter the County of the Principal’s residence
- Provide the Principal’s full name
- AND
- Provide the name of the selected Agent
- Read the remainder of the paragraph
Step 2 – Principal’s Approved Powers – The Principal must read each individual power. To grant any of the powers, initial the powers that the Principal would like to approve. The powers that the Principal chooses not to grant, place an “X” in that line. Choose from the following powers and approve or disapprove on the form:
- Real property transactions
- Personal property transactions
- Bond, share, stock, securities and commodity transactions
- Banking transactions
- Safe deposits
- Business operating transactions
- Insurance transactions
- Estate transactions
- Personal relationships and affairs
- Social security and unemployment
- Benefits from military service
- Tax matters
- Employment of agents
- Gifts to charities, and to individuals other than the Agent
- Gifts to the named attorney-in-fact
- Renunciation of an interest in or power over property to benefit persons other than the attorney-in-fact
- Renunciation of an interest in or power over property to benefit persons including the Agent (If power of substitution and revocation is to be given, add: ‘I also give to such person full power to appoint another to act as my attorney-in-fact and full power to revoke such appointment.’)
- To limit the expiration to a specific date you may enter the termination date in mm/yyyy format
- The Principal must read the remainder of this document before application of their signature
Step 3 – Signature – Must be signed before a licensed Notary Public
- Enter the date of the Principal’s Signature in mm/dd/yyyy format
- Enter the Principal’s signature
Step 4 – Notarization –
As the Notary Public has witnessed the signature of the completed powers document, they shall then complete the document in acknowledgement of the information and signature, The notary shall then affix the official seal
