Kentucky General (Financial) Power of Attorney Form
A Kentucky General (Financial) Power of Attorney is a personal planning document you can complete to bestow formal powers to a person you trust exceptionally well. The form is specific to finances only, which includes almost every facet of someone’s assets. As long as it’s not related to tax filing, healthcare, or a motor vehicle, the agent (the person you select) can get the temporary permission to oversee it. The most important factor in deciding which Kentucky-specific power of attorney to use is whether you need it to be durable or non-durable. The general POA available to download here is not durable, which means the agent won’t keep their power should you (the principal) experience an affair that renders you mentally handicapped. This is very useful for those not intending to plan for the future, but just need to give someone powers for a specific length of time (from a few days to over 1 year).
Agent’s duties (§ 457.140): While the principal should make an effort in explaining what responsibilities their agent will have, the linked statute provides a complete list of all obligations that lie on the agent. It’s important that the agent understand this upfront so they can ascertain that they are the right person for the job.
Laws: KRS Ch. 457
Signing requirements (§ 457.050): Since July 25th, 2020, a POA only needs to be notarized (witness signatures are not required).