Vermont 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 Vermont’s laws and your unique situation.
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Do I Really Need a Financial Power of Attorney in Vermont?
A durable power of attorney dictates your wishes during unexpected times. You may be in an accident that renders you permanently or temporarily incapacitated. Or your workplace may send you to their Paris office for three months. In both these cases, a financial power of attorney allows your daily affairs (like depositing checks at financial institutions or paying your mortgage) to continue despite your unavailability.
Without a power of attorney, there is no one to manage your routine transactions, like banking, paying bills, providing family support, or managing real estate. If you become incapacitated and are no longer of sound mind, the impacts are even more serious. Your loved ones will need to file a court proceeding for a conservatorship to manage your assets. There is no guarantee that the court will choose a conservator who is your first choice, and the long process is often expensive. A power of attorney offers you this protection when the worst happens and does so for less stress and money.
FindLaw provides an easy-to-use service where you can create your own financial power of attorney quickly and securely.
Vermont 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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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 Vermont Power of Attorney
Understand how a POA works in Vermont
A power of attorney is a written legal document where a principal (you) appoints an agent (or attorney-in-fact) to act on their behalf. In Vermont, powers of attorney are generally durable, meaning they remain in effect regardless of the principal’s incapacity.
A durable power of attorney assigns broad powers to the agent, including:
- Financial power
- Real estate transfers
- Retirement plan management
- Fiduciary obligations
- Beneficiary matters on life insurance policies
Most powers of attorney contain these broad powers since they serve as a back-up in case of incapacitation or long-term unavailability.
You can make powers of attorney as limited or broad as you desire. Limited powers of attorney may narrow duties to one category or a group of specific powers (e.g., financial affairs) or one event (e.g., large business purchases).
Choose an agent
Carefully consider who you wish to serve as your agent. This individual should be knowledgeable about your life and willing to look out for your best interest. Many people choose their spouse, live-in partner, close friend, sibling, or business associate to fulfill this role. Choose a successor agent, too, in case your first choice is unable or unwilling to serve as your agent when you need them.
Assign duties to the agent
If you wish to use your financial power of attorney as a stop-gap in case you become incapacitated, consider assigning broad powers. That step ensures nothing becomes neglected when you cannot address those matters. You can limit duties or split them between two agents. For example, you may want your spouse to handle banking, personal real estate, and childcare matters but assign small business management to your business partner.
Sign in front of one witness and a notary public
Vermont law requires powers of attorney to be signed, witnessed, and notarized. Your witness cannot be related to you or a beneficiary of your estate. Notary publics may be on staff at your local financial institution, or you can hire a mobile notary to visit your home. Ensure your witness is available at the same time since both the notary and the witness need to see you sign the document.
Once it’s complete, make copies of your power of attorney. Provide them to your agent, family members, and anyone else affected by its contents. Store the original in a safe deposit box or fireproof document cabinet.
If you decide to change or revoke your power of attorney, you only need to draft and execute a new one. The new power of attorney cancels out previous ones. However, if you decide you no longer need a power of attorney but do not feel ready to draft a new one, you can sign a power of attorney revocation form. Inform your agent about any revocations; otherwise, they will still be able to act under the original power of attorney.
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 Form
Vermont Financial Power of Attorney FAQ
A Vermont estate planning attorney will likely charge $150 to $300 per hour to draft a power of attorney and offer legal advice. You can reduce this expense by completing a form yourself. Our forms are based on state law and cost only $35.
FindLaw is not a law firm, and the forms are not a substitute for the advice or services of an attorney. If you have questions for a lawyer, you can hire an attorney to answer them and review your form — usually for less than you would spend on the full process.
You can find free power of attorney forms online. However, there is no guarantee that they are appropriate for your situation or legally enforceable in Vermont. They also do not come with instructions, so you run the risk of completing them incorrectly. Your best course of action is to find a reliable form and hire an attorney to review it.
Most people can complete power of attorney forms on their own using a service like FindLaw’s.
Even if you download and complete a form, however, it is sometimes wise to have a lawyer review your completed form before signing it. This is especially true if you own a business, face substantial family conflict, or hold assets only in your name.
Law firms also often have notaries on staff and a steady supply of non-interested witnesses, making execution much easier. Finally, if you need complex estate planning documents like trusts, it never hurts to contact a lawyer to address all your estate planning needs.
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