An Indiana durable power of attorney form is a legal document that allows an individual (“the principal”) to designate another person (“the agent”) to make decisions on their behalf. Under Indiana law, the agent is allowed to make primarily financial decisions during the principal’s lifetime and in case he or she becomes incapacitated.
This form is sometimes called a general durable power of attorney and a durable power of attorney for finances and is used for financial and business matters. To grant durable power over medical decisions, you need a medical power of attorney.
Read on to learn how to use a durable power of attorney in the Hoosier State.
Indiana Durable Power of Attorney Requirements
In Indiana, power of attorney forms are durable by default.
Relevant Laws: § 30-5-1-1. (Powers of Attorney)
Presumed Durable: Yes — durability presumed (§ 30-5-10-3).
Signing: Requires signature of principal in the presence of a notary public (§ 30-5-4-1).
Notarization: Yes, notarization is required. If the document is signed in the presence of 2 witnesses, notarization is not required.
Statutory Form: No.
How to Fill Out an Indiana DPOA Form
Here is how to create a durable power of attorney form for Indiana:
Step 1: Designate an Agent
Choose someone you trust to act as your agent. But first, make sure that they understand what power of attorney is and what they have to do once the power is transferred.
Once you’ve chosen an agent, write the names and addresses at the top of the durable power of attorney form.
Step 2: Grant Authority
Next, you need to specify the areas of your life you want to give the agent legal power over. In Indiana, DPOAs are generally used for handling financial or business matters. Here are some common use cases:
- real estate transactions
- banking and financial matters
- retirement plan
- securities transactions
- business operations
- taxes
- personal and family maintenance
Step 3: Ensure Your Form Is Durable
In Indiana, a power of attorney is presumed to be durable unless you specifically state on the form that it’s non-durable.
Step 4: Sign and Date the Form
To complete the paperwork, the agent and the principal must sign and date the durable power of attorney form.
In Indiana, your form also needs to be notarized or signed in the presence of two witnesses. However, you cannot name as witness:
- someone you named as an agent or successor agent in the POA
- someone benefits from the POA
- the spouse or descendant of the agent or potential beneficiary
Even if you have two witnesses, it’s best to have the form notarized as well. Banks or financial institutions usually require notarized forms, so it’s best to stay on the safe side.
Storing and Using Your Form in Indiana
Once you have created your DPOA, it’s best to store the original in a safe place and let your loved ones know where it is for easy access. If you become incapacitated, your agent might need the original copy of the DPOA to act on your behalf.
Signing on Behalf of the Principal
For an agent to be able to sign on the prinicpal’s behalf, the principal shoul contact the third party or place the DPOA will be used, and provide your ID and that of your agent.
The agent can then sign on your behalf as follows:
[Principal’s name]
by [Agent’s name]
Power of attorney
Revoking a Durable Power of Attorney in Indiana
A power of attorney can be revoked by the principal at any time by completing and filing a revocation of power of attorney.