Empowering Others to Act on Your Behalf
The Mississippi Power of Attorney form grants individuals the ability to entrust a substitute, known as an “agent” or “attorney-in-fact,” to act on their behalf. By executing this form, also referred to as the “principal,” you can specify the types of authority you wish to transfer. The powers that can be conveyed through this document vary, ranging from financial actions to healthcare decisions and even parental authority. Although there are different forms of this instrument, they all follow the same basic formula.
Categories of Power of Attorney
The Mississippi Power of Attorney offers several categories, each serving a unique purpose. These include:
Advance Directive (Medical POA & Living Will)
- This category allows you to declare your wishes regarding medical treatment in the event of incapacitation. Additionally, you can appoint a healthcare agent.
Durable (Financial) Power of Attorney
- By assigning powers related to your finances and property, this form ensures that your agent can act on your behalf even if you become debilitated.
General (Financial) Power of Attorney
- This category provides access to all financial aspects of your life. It ceases to be valid upon your death, revocation of authority, or incapacitation.
Limited (Special) Power of Attorney
- For specific tasks or one-time transactions, the Limited Power of Attorney is a flexible option that allows you to restrict the authority granted to your agent.
Minor Child Power of Attorney
- This category gives parents or guardians the ability to authorize another individual to make decisions on their child’s behalf.
Motor Vehicle Power of Attorney
- Individuals who need assistance with vehicle-related transactions can appoint someone to act on their behalf using this form.
Real Estate Power of Attorney
- With a focus on property-related matters, this category authorizes an agent to perform duties on your behalf.
Revocation of Power of Attorney
- If you wish to terminate an existing Power of Attorney, this form serves as formal notice to the agent.
Tax Power of Attorney
- This commonly used form allows you to designate an agent to file taxes on your behalf.
For each category of the Mississippi Power of Attorney form, specific signing requirements apply. These are designed to ensure the legality and validity of the document:
- Advance Directive (Medical POA & Living Will): Requires acknowledgment from two witnesses and/or a notary public (§ 41-41-205(2)).
- Durable (Financial) Power of Attorney, General (Financial) Power of Attorney, Limited (Special) Power of Attorney, Real Estate Power of Attorney, and Revocation of Power of Attorney: Recommended acknowledgment by a notary public.
- Minor Child Power of Attorney: Requires acknowledgment from a notary public (§ 93-31-5(2)).
- Motor Vehicle Power of Attorney: Requires acknowledgment from a notary public.
- Tax Power of Attorney: Necessitates the signatures of the taxpayer(s) and their representative(s).
To learn more about the Mississippi Power of Attorney form and its specific categories, visit Garrity Traina for further information.