Pennsylvania General (Financial) Power of Attorney Power of Attorney Forms

Pennsylvania General (Financial) Power of Attorney

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A general (financial) power of attorney form in Pennsylvania allows an individual (the principal) to officially designate another person as their agent, granting them the authority to handle their assets and property. The agent can perform various financial actions such as buying and selling assets, opening accounts, and making other financial decisions for the principal.

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Signing Requirements

Two witnesses and a notary public.

Laws

Durable - A power of attorney is durable unless otherwise specified in the power of attorney.<a class="source-url" href="#source-url1">[1]</a>

Incapacity - means an adult whose ability to receive and evaluate information effectively and communicate decisions in any way is impaired to such a significant extent that he is partially or totally unable to manage his financial resources or to meet essential requirements for his physical health and safety.<a class="source-url" href="#source-url2">[2]</a>

Signing Requirements - Must be signed by the principal and two witnesses and the signatures must be notarized. The witnesses may not be the person who signed the POA on behalf of the principal, an agent designated in the POA, or the notary public.<a class="source-url" href="#source-url3">[3]</a>

Sources

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Notice

The information and templates provided on this website are for general informational purposes only and are not a substitute for professional legal advice. While we strive to offer accurate and up-to-date forms, the legal landscape is complex and varies by jurisdiction. We strongly recommend that you consult with a qualified attorney for specific legal issues or questions. Using our templates does not create an attorney-client relationship, and we are not responsible for any actions taken based on the information provided here.

The Significance of POA

By designating an agent, the principal can ensure that someone they trust will make decisions regarding their finances, healthcare, and legal matters. This can help prevent disputes among family members and ensure timely decision-making when needed. Additionally, having a POA in place can protect an individual’s interests, allowing for smooth management of affairs without the need for court intervention. Overall, a POA is a vital tool for planning and safeguarding one's future.