North Carolina Financial Power of Attorney Form
FindLaw has partnered with experienced attorneys to create financial power of attorney forms you can complete quickly and easily from the comfort of home. Just follow along with our easy step-by-step process to create a financial power of attorney that is customized to North Carolina’s laws and your unique situation.
Start your form for free. If you’re not satisfied, there’s no obligation to buy.
Do I Really Need a Financial Power of Attorney in North Carolina?
You need a financial power of attorney (POA) if you want someone to pay your bills, manage your property, or otherwise handle your finances when you are physically or mentally unable to do so yourself.
If you do not have a POA and become incapacitated, your loved ones will have to petition a court to appoint a guardian for you. This process can be stressful and might even lead to arguments between your loved ones.
Powers of attorney also can be useful when you are healthy. For example, suppose you need to leave the country for several months. In that case, you can use a power of attorney to allow someone else to manage your property or financial matters you cannot manage remotely.
North Carolina 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.
THE MOST COMPREHENSIVE PACKAGE FOR LESS
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
If you take the following steps, you can create your own power of attorney:
See full process
Understand how a POA works in North Carolina
A power of attorney is a legal document. The person who creates a power of attorney is called the principal. In a power of attorney, the principal gives another person (the agent) the legal authority to act on the principal’s behalf.
A principal can give an agent broad or limited authority. North Carolina has two main types of powers of attorney: the financial power of attorney and the health care power of attorney.
You can use a financial power of attorney to give your agent the legal authority to do almost anything you can, including accessing and managing your bank accounts and buying or selling real estate. However, a financial power of attorney will not allow your agent to make health care decisions for you. For that, you will need a health care power of attorney, which you can create through FindLaw’s health care directive and living will form.
Choose how much power to give your agent
Powers of attorney are flexible documents. You can give an agent broad or limited powers. Think about why you want a power of attorney and what you hope it will accomplish. If you are planning for incapacity, you should not limit your agent’s powers too much. They will need broad powers to manage your property and pay your bills if you are incapacitated for a long time.
Choose an agent
Selecting an agent is an important decision. Under a financial power of attorney, they will have access to your money and property.
A financial agent should be someone who makes wise choices about money and property and who is comfortable dealing with attorneys, banks, and financial professionals. You also can name co-agents under a financial power of attorney. Co-agents will act independently of each other unless you state that they must cooperate.
You should name one or more successor agents for your financial power of attorney. A successor agent will act take over as your agent if your original agent is unable to serve.
Get a form and fill it out
Sign it with witnesses
The best power of attorney form is worthless if it is not signed correctly. North Carolina has specific signature requirements to create a valid power of attorney.
You need to sign your financial power of attorney or direct another person in your presence to sign it if you are unable. You do not need witnesses for a financial power of attorney. But, you must still acknowledge it before a notary public or other individual authorized by law to take acknowledgments.
Give your power of attorney to necessary people
After you properly sign your power of attorney, you need to make sure the right people have it. Your agent should have a copy to show others they have the authority to act on your behalf.
It is a good idea to give your financial power of attorney to banks and other businesses where you want your agent to act on your behalf.
If your power of attorney includes the authority to conduct real estate transactions, it must be registered with the office that registers deeds in the county where you live or where the property is located.
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
North Carolina Financial Power of Attorney FAQs
North Carolina has several types of financial powers of attorney. You should be familiar with the following:
Durable power of attorney
A durable power of attorney remains effective when the principal is incapacitated. Powers of attorney in North Carolina are durable unless they include a statement that it is terminated by the principal’s incapacity.
Nondurable power of attorney
A nondurable power of attorney is terminated when the principal is incapacitated. North Carolina law defines incapacity as the principal’s inability to manage property or business affairs due to any of the following:
- The principal’s inability to receive and evaluate information
- The principal’s inability to make or communicate decisions
- The principal is missing
- The principal is detained or in prison
- The principal is outside the United States and cannot return
Springing power of attorney
Most financial powers of attorney in North Carolina are effective immediately after the principal signs it and acknowledges it before a notary public. The springing power of attorney becomes effective at a future date or when a future event happens. To create a springing power of attorney, you must state what the future date or event is.
The most common event people use is incapacity, so their agent doesn’t have authority until necessary. However, there are drawbacks to using a springing power of attorney to plan for incapacity. Banks and businesses may be reluctant to deal with your agent until they have sufficient proof you are incapacitated. Sometimes, that determination can take time.
Limited power of attorney
A limited power of attorney gives limited authority to an agent. Instead of giving your agent broad powers, you can use a limited power of attorney to allow them to handle one transaction or type of transaction.
North Carolina has a limited power of attorney for real property form in its statutes. If you use this form, register it in the county where the property is located.
You likely do not need a lawyer for a financial power of attorney if you have a reliable power of attorney form and follow the above steps for creating a power of attorney.
However, if you have trouble selecting an agent because of a complicated family situation or have questions about how much power to give your agent, you can consult with an attorney licensed in North Carolina.
If you are not incapacitated, you can revoke a financial power of attorney by signing and acknowledging a written revocation. You also can destroy the power of attorney with the intent to revoke it. However, it is better to have a written revocation. Give your signed revocation to your agent, your banks and financial institutions, and every business your agent dealt with on your behalf.
If your power of attorney is registered with the local office of deeds, you must file a signed and acknowledged revocation and proof of service on your agent with the same office.
North Carolina laws protect principals from businesses that unreasonably refuse their agent’s authority. However, a person or business is not required to accept your agent’s authority if they would not be legally required to do business with you.
Even if someone would be required to do business with you, they can ask your agent for additional assurances before accepting the power of attorney. In North Carolina, a business or person can ask your agent for the following:
- A certification from your agent that they believe the power of attorney is still valid and has not been terminated or revoked
- An English translation if your power of attorney is in another language
- An opinion from a lawyer about the validity of the power of attorney
A person or business is not required to accept the power of attorney if they request any of the above documents and your agent fails to provide it.
Even if your agent complies with a request for these documents, a person or business can reject the power of attorney if they have a good reason. For example, if they have knowledge or a good faith belief that the POA is not valid or that the agent’s authority has been revoked.
If someone refuses without good cause, a court can order them to accept it or order other legal remedies.
If you follow the above steps, you can help your parent create their own powers of attorney. However, you must ensure that their wishes are reflected in their powers of attorney and that you are not dictating your wishes.
If there is any question about their competency, you should consult with an attorney licensed in North Carolina. If they lack the capacity to create a power of attorney, their power of attorney will not be valid. An attorney can help you petition a court to appoint you or another adult to care for your parents.
Most attorneys in North Carolina will charge $100 or more for one power of attorney document.
If you choose to make your own power of attorney, you can use reasonably priced forms like the power of attorney forms we offer.
Disclosure: FindLaw is not a law firm, and the forms are not a substitute for the advice or services of an attorney.
Prefer to Work With a Lawyer?
Find an experienced estate planning attorney.
Already Have an Account?
Sign into your Legal Forms and Services account to manage your estate planning documents.Sign In
Create an Account for all Your Estate Planning Needs
Create an account allows to take advantage of these benefits:
- Access state-specific content curated especially for you
- Save your information as you go. Work on your documents in your own time
- Download, print, or edit your stored documents