Financial Power of Attorney Form - Missouri

The Financial Power of Attorney Form in Missouri is a legal document that grants someone else the authority to manage your financial affairs on your behalf. This can be useful if you are unable to handle your finances due to illness, disability, or other reasons. The appointed person, known as the agent, can handle tasks such as paying bills, managing bank accounts, and making financial decisions on your behalf.

In Missouri, the Financial Power of Attorney form is typically filed by the person granting the power, also known as the principal.

FAQ

Q: What is a financial power of attorney?
A: A financial power of attorney is a legal document that allows someone (the agent or attorney-in-fact) to make financial and legal decisions on your behalf.

Q: Why would I need a financial power of attorney?
A: A financial power of attorney is useful if you become incapacitated or unable to make decisions on your own. It allows someone you trust to manage your finances and make important financial decisions.

Q: How do I create a financial power of attorney in Missouri?
A: To create a financial power of attorney in Missouri, you need to fill out and sign a specific form known as a 'Missouri Durable Power of Attorney for Property and Finances.' It is advisable to consult with an attorney to ensure your document meets all legal requirements.

Q: Who can I appoint as my agent in a financial power of attorney?
A: You can appoint any adult you trust as your agent. It can be a family member, friend, or even a professional.

Q: When does a financial power of attorney take effect?
A: A financial power of attorney can be either 'springing' or 'immediate.' A springing power of attorney takes effect only when you become incapacitated, whereas an immediate power of attorney takes effect as soon as it is signed.

Q: Can I revoke a financial power of attorney?
A: Yes, you can revoke a financial power of attorney at any time, as long as you are mentally competent to do so.