A power of attorney is used in Michigan to give one adult the right to handle another adult's finances. If you want to get a power of attorney from another adult, such as an elderly parent, you must comply with Michigan law, which requires that the power of attorney be in writing and signed voluntarily, and the person granting the powers must be competent when signing it. The power of attorney does not give you the right to make medical decisions, and the person who gave you power of attorney can revoke it at any time.
Discuss your desire to get a power of attorney with the person whom you want to assist with his financial affairs. Explain what matters you believe need tending to and how you can help handle them. Determine whether he is willing to give you the power and responsibility of acting as his agent, also known as an attorney-in-fact, under a power of attorney.
Obtain a form of a power of attorney. Because there is no specific form required under Michigan law, such forms are available from legal stationary stores, law libraries and attorneys. A form called "Durable Power of Attorney for Finances" with instructions is available for downloading from the website of the State Bar of Michigan.
Complete the power of attorney from by providing the appropriate information in the blank spaces on the form. At a minimum, you must insert the name of the person granting the power; your name and address; a description of your relation (e.g., brother, sister, friend); the effective date of the power of attorney; and any special instructions. You can modify the form by striking out any provisions that you or the person granting the power do not want included.
Execute the power of attorney by having the person granting the power sign it in the presence of two other adults who will sign the document as witnesses. If you intend to use the power to handle real estate transactions, the power of attorney must be signed in the presence of a public notary and notarized.
- Form -- Durable Power of Attorney for Finances
Tips & Warnings
If you also want to be able to make medical decisions for another adult should he become incapacitated, you must use a form called an "Advance Directive."
A power of attorney is an important legal document. Obtain legal advice from an attorney authorized to practice law in Michigan if you have any questions or concerns about the document -- before you sign it.