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Making a Colorado Power of Attorney
A Colorado Power of Attorney (PoA) is a legal document that grants a trusted person or organization permission to handle legal and financial affairs on your behalf, such as accessing your bank account, selling property, and signing contracts.
The person giving control is known as the "principal," while the individual or organization gaining powers is known as the "agent" or "attorney-in-fact." Designed for Colorado residents, this Power of Attorney is made for use in Jefferson County, El Paso County, Arapahoe County, and in every other part of the state. All Colorado Power of Attorney forms from Rocket Lawyer can be completely personalized for your unique circumstances. With this essential legal document on hand, your agent(s) can provide verification to financial institutions and other parties that they can legally act in your interest when you are not present or able.
It's simple and easy to give or receive the support you might need using a free Colorado Power of Attorney template from Rocket Lawyer:
This route is often going to be notably more affordable and convenient than hiring and working with a traditional lawyer. If necessary, you may start this PoA on behalf of a family member, and then help that person sign it once you've drafted it. Please remember that for a Power of Attorney to be considered legally valid, the principal must be mentally competent when they sign. In the event that the principal has already been declared legally incompetent, a court-appointed conservatorship may be necessary. In this scenario, it's best for you to speak to an attorney.
Every person over 18 years old should have a Power of Attorney. Though it is difficult to think about, there could come a time when you are no longer able to deal with your affairs on your own. There will also be times when you're simply out of pocket. Typical circumstances where you may find power of attorney to be useful include:
Regardless of whether this Colorado Power of Attorney has been generated as part of a long-term plan or made in response to an emergency, witnesses and notarization can help to protect your document if a third party questions its legitimacy.
There are several ways to classify PoA documents. They are largely dependent on when the powers come into effect, how long they will last, and what they will offer authority over. Often, you'll find them described in these four groups:
When drafting your free Colorado Power of Attorney with Rocket Lawyer, you can decide to have the agent's authority begin immediately upon signing, on a selected date, or only when you are not capable. The Power of Attorney can expire on a particular date or when you die.
Colorado Power of Attorney forms are usually simple, but you or your agent could still need advice. Seeking out a lawyer to comment on your Colorado Power of Attorney can be time-intensive and fairly costly. A more cost-effective way to double-check your document is through the On Call network of attorneys. With a Premium membership, you can get your document examined by an On Call attorney with relevant experience. You can rest assured that Rocket Lawyer is by your side.
The cost of meeting and hiring your average legal provider to draft a Power of Attorney might total anywhere between two hundred and five hundred dollars. Rocket Lawyer isn't a run-of-the-mill Power of Attorney template provider. With us, anyone under a Premium membership has access to up to 40% in savings when hiring an attorney.
Each Power of Attorney comes with a list of proposed next steps you should take to finalize your document. You should feel free to take any of these actions related to your PoA: editing it, printing it out, or signing it. Finally, you will need to send a final copy of your signed document to your agent(s), financial institutions, and other impacted parties.
The specific requirements and restrictions are different by state; however, in Colorado, your document will need to be acknowledged by a notary public. If your agent will engage in real estate transactions, the Power of Attorney must be signed before a notary public and recorded with your county.
See Colorado Power of Attorney law: C.R.S. Title 15, Article 2.5