Indiana General (Financial) Power of Attorney
The Indiana General (Financial) Power of Attorney streamlines the process of nominating an official financial agent, allowing Indiana residents the ability to give someone they know personally the right to manage their assets (such as real estate). The document is popular among those that anticipate being unavailable for a couple of weeks to upwards of one (1) year. This could be due to mandatory military service (such as an overseas deployment), voluntary travel, rehabilitation, or to simply ease one’s burden regarding a specific task. The agent can be compensated for the duties they perform under the POA if necessary. One common scenario of paying an agent is if the principal intends to delegate management of a specific asset or assets (such as their rental properties).
If the person completing the form is looking to complete a POA that gives them the ability to put an agent on “standby” to manage their finances should something happen to them medically, the durable-type power of attorney should be completed.
Laws: IC 30-5
Signing requirements (IC 30-5-4-1) – Notarization mandatory.