Rhode Island Financial Power of Attorney Form
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Do I Really Need a Financial Power of Attorney in Rhode Island?
It is possible you will never need a financial power of attorney, but you cannot predict accidents or sudden health emergencies that will render you unconscious or unable to communicate for an extended time. If you want to prepare for that possibility, you need a power of attorney.
Powers of attorney let you select the people who will make decisions for you when you are incapacitated. If you do not have a power of attorney, a Rhode Island probate court may need to intervene to appoint a guardian and a conservator for you, and it may appoint someone you would not want to make decisions for you. This court process can be expensive and time-consuming, and a power of attorney can save your loved ones from the stress of going to court.
Rhode Island 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 Rhode Island Power of Attorney
Understand How a Financial POA Works in Rhode Island
A power of attorney is a legal document that you can use to name another person (called the agent or attorney-in-fact) to act in your place. The person who makes a power of attorney is called the principal.
A financial power of attorney gives an agent power to handle your property, financial decisions, and personal matters. You can learn more about the types of financial powers of attorney in our FAQ below.
Pick someone you trust to be your agent
Your agent(s) will be responsible for your personal property and real estate, and have access to your bank accounts. You need to trust them to follow your instructions and to protect your money and property. A family member or close friend who knows you well and respects your wishes is often a good choice.
You should pick a successor agent to step in when your first choice is unavailable.
Decide how much authority your agent will have
Do you want to give your agent a general power of attorney with broad power or a limited power of attorney to handle specific tasks? When planning for incapacity, be sure to give your agent enough power to be flexible when unforeseen situations arise.
You can also create separate limited powers of attorney when you are healthy to deal with specific circumstances that arise, such as selling your house if you move out of the country.
Sign your power of attorney document
Deliver your signed power of attorney to your agent
After you sign your power of attorney, you should give it to your agent so they can prove they have authority to act for you. You should retain a copy for your own records and store it in a safe place.
You can give copies of your financial power of attorney to your bank and businesses that will deal with your agent to give them additional assurance that your agent can act on your behalf.
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
Rhode Island Financial Power of Attorney FAQ
In Rhode Island, there are several types of financial powers of attorney:
- General power of attorney: Gives your agent broad powers to act on your behalf.
- Limited power of attorney: Gives your agent limited authority to do a specific act or types of acts.
- Durable power of attorney: Stays effective when you become incapacitated.
- Nondurable power of attorney: Ends when you become incapacitated.
- Springing power of attorney: Becomes effective on a future date or event, such as your incapacity.
If you hire an attorney, you should shop around because attorneys can charge a wide range of prices for a power of attorney. Many attorneys charge a flat fee per document, but some charge an hourly rate for their work.
Using a form from a reputable source, like the power of attorney forms we offer for $35, is a low-cost option for creating a power of attorney.
FindLaw is not a law firm, and the forms are not a substitute for the advice or services of an attorney. If you have a complex case, or would like a lawyer’s review of your estate planning documents, please visit our directory to find a lawyer near you.
Rhode Island’s statutes contain free sample forms for a financial power of attorney. Our forms walk you through this process and help you tailor your form to your circumstances.
You may see free forms from other sources online, but you should avoid these unless they are from a reputable source like a government website. Free forms may not be tailored to Rhode Island law and may not be updated when laws change.
Rhode Island does not require you to use a lawyer to make a power of attorney. You can create your own by using a form from a reliable source like FindLaw and following the above steps.
If you need legal advice or would feel more comfortable with an attorney’s help, you can ask an estate planning attorney licensed in Rhode Island to review your completed form or draft a power of attorney for you.
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