Financial Power Of Attorney Ohio Pdf

The powers can be general in nature or very specific depending on the type of power of attorney document executed.

Financial power of attorney ohio pdf.

Banks and other financial institutions operation of entity or business insurance and annuities. Ohio general durable power of attorney. The powers are durable which means the form remains valid even if the principal should become mentally incompetent. Ohio power of attorney forms legally authorizes an attorney in fact to make financial and medical decisions for the person who executes the document principal.

A durable power of attorney allows you to handle another person s financial decisions on their behalf all decisions made must be to the benefit of the person being represented. 1 the ohio statutory power of attorney can be accessed then downloaded here. Medical power of attorney a medical power of attorney appoints a health care representative to handle any decision making in regards to the principal s medical treatment. The ohio general financial power of attorney is a legal arrangement in which a party known as the agent is either asked or hired by a party called the principal to complete one or a set of tasks in their place.

For example if someone experiences dementia his or her agent would be able to use that person s bank accounts and pay his or her bills with a power of attorney in. If a power of attorney document does not explicitly say that the power is durable it ends if you become incapacitated. Free printable durable financial power of attorney forms. They are explained in the uniform statutory form power of attorney act.

Depending on the task s at hand the principal may wish to select a trusted individual such as a friend or family member a business professional or a reputable entity. If you have any questions about these powers obtain competent legal advice. Financial powers of attorney ohio state bar association 5 17 18. Ohio durable power of attorney form pdf.

Durable power of attorney to grant power to bank accounts real estate and any other financial related acts. The powers you grant below are effective only if you become disabled or incompetent. Click on the pdf word or odt to open the document in the format you intend to work with. General power of attorney also grants financial authority over the principal s assets and property however it is not considered durable because it terminates automatically if and when the principal is no longer able to make his or her own decisions due to physical or mental incapacity.

The one thing about the durable form that separates it from the rest is that it remains legal in the event the person being represented can no longer think. Power of attorney act sections 1337 21 to 1337 64 of the revised code. Ohio power of attorney forms. Adobe pdf ms word docx opendocument.

The powers granted by this document are broad and sweeping.