An Indiana power of attorney is a legal document that gives someone (the “agent”) the authority to make important financial or medical decisions for you (the “principal”) if you need help managing your affairs or become incapacitated due to injury or illness. The agent has a fiduciary duty to act in your best financial interest and in accordance with your wishes.
Laws
Statute: Title 30, Article 5 of the Indiana Code.
By Type
Durable (Financial)
Ensures the validity of your document even if you lose the capacity to make your own decisions.
Signing Requirements: Notary public or before witnesses.
Medical
Offers legal guidance to your caregivers on how to proceed with your medical care.
Signing Requirements: Notary public or two witnesses (Ind. Code § 16-36-7-28).
Limited
Gives a third party certain limited powers to manage your affairs.
Signing Requirements: Notary public or before witnesses.
Non-Durable (General)
Provides an agent with the broad authority to act on the principal’s behalf in predominantly financial matters.
Signing Requirements: Notary public or before witnesses.
Springing
Comes into effect at a future time and only when a specific event occurs, such as the incapacitation of the principal.
Signing Requirements: Notary public or before witnesses.
Vehicle (Form 1940)
The agent may execute vehicle-related transactions such as transfer of ownership on behalf of the principal.
Signing Requirements: Notary public.
Tax (Form POA - 1)
Grants an individual or entity you appoint the legal capacity to file taxes and manage other tax issues on your behalf.
Signing Requirements: Taxpayer.
Real Estate
Use this document to authorize an agent to handle real estate matters.
Signing Requirements: Notary public or two witnesses.
Minor (Child)
Use this form to delegate parental responsibilities for up to 12 months.
Signing Requirements: Notary public.
Revocation
Use to to cancel the authority previously granted to an agent.
Signing Requirements: Notary public (recommended).
