Michigan Durable (Financial) Power of Attorney Form
The Michigan Durable (Financial) Power of Attorney (POA) is a type of legal arrangement that an individual (the Principal) enacts in the knowledge that their Attorney in Fact’s powers will endure even if they enter into a state of medically-diagnosed incapacitation. Some individuals may indeed prefer to enact a General POA so that their Attorney in Fact’s powers terminate upon such circumstances. However, they should keep in mind that so long as they leave clear instructions for their Attorney in Fact to follow, a Principal to a Durable POA will have the advantage of not needing to worry about the state of their finances if they become severely ill.
State Laws & Signing Requirements
State Laws – Estates and Protected Individuals Code
Signing Requirements (§ 700-5501) – State law mandates that the Principal must sign a Durable POA (or that it signed by a Notary Public on their behalf). The Principal must sign it either:
- In presence of two (2) witnesses, who must also sign it. Neither of the witnesses may be the Attorney in Fact, or
- Before a Notary Public, who must acknowledge their signature. The Notary Public must endorse on the form “a certificate of that acknowledgment and the true date of taking the acknowledgment.”
If the Principal so chooses, he or she may have both witnesses and a Notary Public perform their respective duties at the time of signing.