Mississippi Financial Power of Attorney Form
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Do I Really Need Financial a Power of Attorney?
One reason you may require a financial power of attorney is preparing for incapacity. If you ever become unconscious or unavailable, no one can manage business assets or bank accounts listed only in your name. You must appoint someone to handle those items for you should you become incapacitated.
That can happen through a power of attorney or a conservatorship. However, while a power of attorney is a quick form that is easy to complete and execute, appointing a conservator is a more extended matter that requires probate court intervention. That process is often harrowing for loved ones and business partners.
You also might want a power of attorney if you face hazards or long periods of unavailability such as a chronic or terminal medical condition, imminent military deployment, and dangerous work environments.
Mississippi 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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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 Mississippi Financial Power of Attorney
Understand how a financial POA works in Mississippi
A financial power of attorney is a written legal document where a principal (you) appoints an attorney-in-fact (also called an agent) to act on their behalf on financial matters. Most powers of attorney in Mississippi are durable, meaning they are effective even if you become disabled or mentally incapacitated.
Other types of powers of attorney include medical powers of attorney or limited powers of attorney. A medical or health care power of attorney allows an agent to communicate your health care decisions when you cannot do so independently. Limited powers of attorney usually apply for single transactions, like if you need someone to make bank deposits while you are out of the country or finish a real estate transaction. A limited power of attorney is not durable, meaning it becomes ineffective if you are no longer of sound mind.
Choose an attorney-in-fact
Consider your attorney-in-fact carefully. You want to choose someone who is familiar with your daily business and understands routine business activities. This person should also look out for your best interest. Many people choose their spouse, live-in partner, close friend, or business associate to fulfill this role. Choose a successor attorney-in-fact as well in case your primary choice is unable or unwilling to serve when you need them to do so.
Sign in front of a notary public and two witnesses
Mississippi’s standard practice is to notarize or witness a durable or limited power of attorney document the same way as required for a medical power of attorney. Before you sign a power of attorney, find two witnesses who are not related to you or beneficiaries of your estate. Arrange for them to accompany you when you sign a power of attorney in front of a notary. You can usually find a notary on staff at your local bank branch or hire a mobile notary to visit your home.
Once finalized, make copies of your power of attorney. Store the original in a safe deposit box or fireproof cabinet, and provide copies to your attorney-in-fact, family members, and anyone else affected by its contents.
If you need to change or revoke your power of attorney later, you can do so by executing a new one. The new power of attorney automatically cancels out the old one. Once you have a new power of attorney, destroy the original document to avoid confusion. If you wish to merely revoke your current power of attorney, sign a form called a revocation of power of attorney in front of a notary.
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
Mississippi Power of Attorney FAQ
A Mississippi estate planning attorney may charge $100 to $300 an hour to draft a durable power of attorney and offer legal advice. You can reduce this expense by completing our DIY form for only $35.
FindLaw is not a law firm, and the forms are not a substitute for the advice or services of an attorney. If you’d like an attorney’s help, you can save money by hiring an attorney to review your form or answer questions as you work through it.
You can find free power of attorney forms online. However, there is no guarantee that they are appropriate for your situation or enforceable in Mississippi. That causes a bigger and more expensive problem later if you need your attorney-in-fact to make a decision and they cannot do so.
Most people can complete a simple financial power of attorney on their own. However, if you own a business, face substantial family conflict, or face other complex circumstances in your life, attorney review is often critical.
It never hurts to contact a lawyer and see what their firm offers for your end-of-life plans.
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