Iowa Financial Power of Attorney Form
An accident or long period of unavailability may make it necessary for someone to act on your behalf in financial matters. You can choose that individual by executing a financial power of attorney. FindLaw provides low-cost financial power of attorney forms that can be completed at your convenience. Use our guided process to customize, print, and sign your legally-valid document, fast!
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Do I Really Need a Financial Power of Attorney?
A financial power of attorney provides backup if you cannot make financial decisions for yourself. If an accident or illness leaves you incapacitated, your loved ones may need to petition the court for a conservatorship. You can avoid this scenario by executing a financial power of attorney today.
FindLaw provides an easy-to-use service where you can create your own financial power of attorney quickly and securely.
Iowa Financial Power of Attorney Options
Financial Power of Attorney
For One Person
A do-it-yourself financial power of attorney form that’s easy to personalize.
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Estate Planning Package
For One Person
All the forms you need to create a personal estate plan.
How It Works
The process takes less than an hour, and you can complete it from the comfort of your home.
Answer Some Questions
Decide who your agent will be and what authority you want them to have. Then, simply answer a few questions.
Create an Account
Creating an account is easy, quick, and secure. Save your information as you go and return when you have time.
Complete Your Document
Once you answer the relevant questions, we do the hard part and create your unique document.
Sign & Make It Legal
Sign your document following the instructions on the form. This may include signing in front of witnesses or a notary.
How To Get a Financial Power of Attorney
Understand how a financial POA works in Iowa
A financial power of attorney is a legal document that grants authority to another person to act in your place. The one creating the document (you) is the principal, while the individual they appoint is the agent or attorney-in-fact.
In Iowa, general powers of attorney are presumed durable unless indicated otherwise. ‘Durable’ means a power of attorney remains in effect regardless of your future disability or mental incapacity.
Powers of attorney can be as broad or limited as the principal desires. Durable powers of attorney (meant to fill in if you are incapacitated or unavailable) grant broad powers so the agent can manage all of your affairs. Limited powers of attorney either grant specific powers to an agent (like financial transactions) or only give authority to complete a single transaction.
Choose your agent
Your agent should be trustworthy and knowledgeable about your financial, business, real estate, and other personal matters. Many people choose their spouse, partner, close friend, or business partner to act in this capacity. Consider selecting a successor agent just in case your primary agent cannot act on these duties in the future.
Assign duties to your agent
Hire a notary public
State law requires that you sign your financial power of attorney in front of a notary public and add their acknowledgment. You can find notary publics at financial institutions or hire a mobile notary to visit you at work or home. If you work with a law firm to review your power of attorney, they will likely have a notary on staff who can help you.
Once finished, make copies of your financial power of attorney and provide them to your agent, family members, and anyone else affected by its contents. Store the original in a fireproof filing cabinet or a safe deposit box. Inform your agent where you keep the original.
If you decide to revoke your power of attorney, you can do that by drafting a new one or signing a revocation of power of attorney form.
You May Want to Speak With a Lawyer if:
- You don’t know who to choose as your agent
- You want to use a POA for Medicaid planning
- You want to discuss which powers you should give your agent
- You want legal review of your completed power of attorney
Ready to get started on your financial power of attorney? It’s free to start.Create My Form
Iowa Financial Power of Attorney FAQ
Besides offering reassurance for these just-in-case scenarios, there are specific situations that make powers of attorney more critical. If you face any of these circumstances, a power of attorney is an effective fail-safe:
- Chronic or terminal illness
- Deployed in the armed services
- Travel abroad frequently due to personal or work commitments
- Hazardous work conditions and exposure to toxic chemicals
But financial powers of attorney are a good thing for everyone to have in case of an unexpected illness or injury. It is almost always better to make a decision yourself than to rely on a judge to make it for you should anything ever happen. Under a conservatorship, the court appoints someone to manage your affairs for you. There is no guarantee that the conservator will be your first choice for this role or that they will handle matters consistent with your wishes. It is easier, and often less expensive, to execute a power of attorney and plan all of this ahead of time.
An estate planning attorney will likely charge $150 to $300 per hour to draft a power of attorney and offer legal advice. If you wish to reduce this expense, but you still want to work with a lawyer, you can complete one of our forms and hire an attorney to review it. Otherwise, most people can create financial powers of attorney on their own for much cheaper, through a reliable service like FindLaw.
Disclaimer: FindLaw is not a law firm, and the forms are not a substitute for the advice or services of an attorney.
You can find free power of attorney forms online. However, there is no guarantee that they are appropriate for your situation or enforceable in Iowa. It is better to pay a small amount of money to have a form you can trust.
Most people don’t need a lawyer for a simple financial power of attorney. If, however, you have significant financial assets, own a business, or don’t know who to pick for your agent, consider hiring a lawyer to help you with estate planning.
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