An Indiana Statutory Power of Attorney Form gives another person (the agent) the legal right to represent and make monetary decisions on behalf of another person (the principal). The principal must trust that the agent will take into account the agreement formed between both parties in regards to this and therefore, most of the time the selected agent is a relative or extremely close friend. The agent maintains these rights even if the principal becomes incapacitated and cannot independently make the choices. Therefore, it is important to be concise with the powers described in the document.
The details of the Indiana Statutory Power of Attorney should be stored away safely in an accessible place as this document can be required at any given moment. However, before storing the document away ensure that all signing requirements have been complied with. In Indiana, this must be done either in front of a notary public or in front of witnesses. Both are not required. If this is not done, the document will be considered invalid.
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