Michigan Financial Power of Attorney Form
FindLaw has partnered with experienced attorneys to create financial power of attorney forms you can complete quickly and easily from the comfort of home. Just follow along with our easy step-by-step process to create a financial power of attorney that is customized to Michigan’s laws and your unique situation.
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Do I Really Need a Financial Power of Attorney in Michigan?
If you want to choose who will manage your finances (such as paying your bills) when you become incapacitated, you need a power of attorney. If you do not have a power of attorney, a Michigan probate court likely will appoint a guardian and conservator for you.
Probate court proceedings can be expensive and take a long time. The court process also can cause additional stress for your loved ones, and a court might appoint someone you do not want to make decisions for you.
There is no better time than today to get your financial power of attorney. FindLaw provides everything you need to create your document now.
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Michigan Financial Power of Attorney Options
Financial Power of Attorney
For One Person
A do-it-yourself financial power of attorney form that’s easy to personalize.
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Estate Planning Package
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All the forms you need to create a personal estate plan.
How It Works
The process takes less than an hour, and you can complete it from the comfort of your home.
Answer Some Questions
Decide who your agent will be and what authority you want them to have. Then, simply answer a few questions.
Create an Account
Creating an account is easy, quick, and secure. Save your information as you go and return when you have time.
Complete Your Document
Once you answer the relevant questions, we do the hard part and create your unique document.
Print, Sign & Make It Legal
Print and sign your document following the instructions. This may include signing in front of witnesses or a notary.
How To Get a Michigan Financial Power of Attorney
Understand how a POA works in Michigan
A power of attorney is a legal document that allows you to give someone the legal authority to act or make decisions on your behalf. The person who makes a power of attorney is called the principal, and the person who acts for the principal is called the attorney-in-fact or agent.
In Michigan, there are several types of powers of attorney:
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- General power of attorney: Gives your attorney-in-fact broad powers to act for you.
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- Limited power of attorney: Gives your attorney-in-fact authority to take only one action or handle a few types of transactions.
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- Durable power of attorney: Remains effective when you are incapacitated.
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- Nondurable power of attorney: Terminates when you are incapacitated.
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- Springing power of attorney: Does not become effective until a future date or event, such as incapacity.
You can combine some of the above. For example, you can have a general power of attorney that is durable or nondurable.
Choose your attorney-in-fact
You must pick someone you trust to keep your property and money safe. Your attorney-in-fact should be responsible and comfortable speaking with financial and legal professionals. You also should name one or more successor agents to act when your first choice is unable to serve.
Choose how much authority to give your attorney-in-fact
When filling out your form, you can select the powers you want your attorney-in-fact to have. If you want them to act for you when you are incapacitated, you should give your agent broad and flexible enough authority to deal with unexpected circumstances.
Sign your form with two witnesses and a notary public
If you do not sign your power of attorney correctly, it will not be valid. Michigan law requires you to sign and date your power of attorney with two adult witnesses present. Both witnesses must sign it, and neither witness can be your attorney-in-fact. Finally, you must acknowledge your power of attorney before a notary public.
Have your attorney-in-fact sign an acknowledgment
In Michigan, your attorney-in-fact must sign an acknowledgment of duties. The acknowledgment describes their responsibilities to you.
Make sure your power of attorney is in the right hands
After your power of attorney is signed, witnessed, and notarized, make sure you keep it in a safe location. Your attorney-in-fact should have a copy to prove they have authority to act for you. You also can give copies to trusted friends and family members. If you want specific businesses or financial institutions to deal with your attorney-in-fact, you can give them copies as well.
You May Want to Speak With a Lawyer if:
- You don’t know who to choose as your agent
- You want to use a POA for Medicaid planning
- You want to discuss which powers you should give your agent
- You want legal review of your completed power of attorney
Ready to get started on your financial power of attorney? It’s free to start.
Create My FormMichigan Power of Attorney FAQ
Attorneys in Michigan charge a wide range of fees for powers of attorney depending on the going rate in their location and their level of experience. Many will charge between $200 and $350 per document, but other attorneys may charge an hourly rate for their work.
In the alternative, you can purchase a power of attorney form for a lower cost and complete it using the above steps. You can always ask an attorney to review your completed form to make sure you did not miss anything. Attorneys usually will charge less for review of a completed form.
FindLaw is not a law firm, and the forms are not a substitute for the advice or services of an attorney. If you have a complex case, or would like a lawyer’s review of your estate planning documents, please visit our directory to find a lawyer near you.
You can find free forms on the internet, but you should think twice about using a free form. If a website offers a free form, it is unlikely they are updating the form when laws change. If you use a form, it is safer to purchase a form from a reliable source.
A lawyer is not required to make a power of attorney in Michigan. If you are comfortable filling out a form, you can make one yourself.
However, if you have trouble selecting an agent or have legal questions, you can ask an attorney licensed in Michigan for legal advice. An attorney can review your form, or they can make one for you. If you want a trust or last will and testament, many estate planning attorneys will include a power of attorney in an estate planning package.
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