A Georgia power of attorney form is a formal document that makes a resident of Georgia able to designate specific functions and powers to another individual or entity. A party who is designating the functions and powers is referred as the “Principal,” on the other hand, the party who is being appointed via the form is known as “Agent” or “Attorney-in-fact.”
Furthermore, through a Georgia power of attorney (POA), the powers and functions that are designated can range from financial, health, business, legal, and or any other like a guardianship.
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Why should you use a statutory form?
When creating a power of attorney in Georgia, it is highly recommended that principals use a statutory form. The statutory form should be written in a legal language. This is important in order to make sure that the Georgia power of attorney is familiar and acceptable to the business and medical communities. On 1st July- 2017, the state of Georgia introduced a revised statutory form. That’s why, the latest version of the form has to be used. However, any power of attorney created before the mentioned date, this does not invalidate them.
Basics of Georgia power of attorney:
For a Georgia power of attorney to be legally enforceable within the state, certain specifications have to be met for a power of attorney. There are generally various signatories to a general Georgia power of attorney. The principal, one or two witnesses, and the notary public are included in them. However, two things will vary from one type of POA to another i.e. the number of witnesses and need for notarization.
Moreover, all the signatories present have to affix their signatures on the form. In Georgia, incapacitated principals shouldn’t initiate a power of attorney. According to law, incapacitation can be due to impairment in the principal’s capability to get and assess details, make or communicate decisions even with the help of technology. Also, a registered physician or licensed psychologist must ascertain it.
In addition, a principal is deemed incapacitated in the state of Georgia who cannot perform financial and business transactions as they have been;
- Out of the country
- Aren’t able to return as developed by an attorney, judge, or appropriate government agent
Important factors to know about Georgia POA:
These important factors include are the following;
The entity or individual must be competent to sign a POA
It is mandatory that the principal understands the stipulations of the POA form. Also, there are capable of delivering that they understand what and why they are signing the document. Consequently, to initiate a power of attorney in Georgia, the state does not allow minors (less than 18 years) and individuals without sound minds.
The principal doesn’t violate any rights
The principal remains the primary decision maker and executioner as much as the POA grants the agent legal authority to carry out the laid-out functions. The principal has legal right to reject and change decisions made by the agent on their behalf.
Well-drafted POA assists in avoiding expensive and time-consuming proceedings
The only way to obtain equivalent legal authority without the only way to obtain equivalent legal authority if the principal becomes incapacitated is through the courts. With the help of POA, you can avoid lengthy processes.
The agent has to do things according to instructions
The primary rule is that the agent has to serve in the principal’s best interest. So, the agent must act as per the document’s stipulations and must not perform any function which is not stated in the form.
As the principal dies, the authority granted in POA ceases
Upon the demise of the principal, the validity of a Georgia POA ceases. Through a probate court, the legal authority to act on behalf of the departed must be obtained. You should also check Georgia LLC operating Agreement Templates.
Free Georgia Power of Attorney Form
Georgia Durable Statutory Financial Power of Attorney Form
In conclusion, a Georgia power of attorney form is a legal document that depends on the limitation of powers and purpose. Before both the principal and agent execute a Georgia power of attorney, they must consider and understand the important factors.