A Rhode Island Statutory Power of Attorney Form gives another individual (the agent) the legal power to represent and make monetary decisions on behalf of another individual (the principal). The principal should completely trust that the agent will stick to the agreement formed between both parties in regards to finances and for this reason most of the agents are relatives or close friends. The agent would still hold these powers even if the principal becomes incapacitated and it is confirmed by a doctor that they cannot make decisions on their own.
The specifics of the Rhode Island Statutory Power of Attorney should be filed away in a safe place that is accessible as this form can be required at any given moment in the instance that a sale occurs. However, before storing away the document you ought to make sure that all signing requirements have been considered. In Rhode Island, the principal should sign before a public notary which in turn, needs to authorize the signature. If this is not done, the document will be invalid.
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