New Jersey General (Financial) Power of Attorney Form
The New Jersey General (Financial) Power of Attorney is a useful legal resource for anyone who seeks an extra pair of hands to better manage their financial affairs. The creator (a party known as the Principal) can elect another a party (their Agent) to take complete or partial control of one or more financial tasks. The decision of who will act as their Agent is one that the Principal should carefully consider—ideally it should be a responsible individual or a professional entity, such as a financial management company. It is vital that the Agent agrees to abide by the conditions pertaining to the contract’s “general” nature i.e. that it will exhaust upon the Principal’s incapacity.
State Laws & Signing Requirements
State Laws – Revised Durable Power of Attorney Act
Signing Requirements (§ 46:2B-8.9) – Numerous signing requirements exist for a General Power of Attorney to be lawfully executed in New Jersey. The Principal first needs to appear before an officer in order to acknowledge they willingly created the General POA. The officer subsequently needs to agree that this is the case by signing a certificate that will serve as their acknowledgement (it is necessary for the certificate to feature the statements found in R.S.46:14-2.1). The Principal must also ensure that one (1) witness witnesses that they executed the POA free from duress, as the witness will need to appear before the officer as well to confirm this.