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Making a Kentucky Power of Attorney
A Kentucky Power of Attorney (PoA) is a legal document that gives a selected individual permission to handle financial matters on your behalf, such as selling real estate, accessing accounts, and signing contracts.
The person giving permission is called the "principal," and the people or entities obtaining powers are known as the "agents" or "attorneys-in-fact. Suitable for residents of Kentucky, our Power of Attorney is made for use in Kenton County, Jefferson County, Fayette County, and in every other county or municipality in the state. All Kentucky Power of Attorney forms from Rocket Lawyer can be modified to address your particular situation. Creating this official document provides verification to financial institutions and other parties that your representative can act in your interest.
It is fast and easy to give or receive the support you need with a free Kentucky Power of Attorney template from Rocket Lawyer:
This route is, in many cases, notably less expensive and less time-consuming than hiring and working with your average attorney. If needed, you may start a PoA on behalf of a relative, and then help that person sign once you've drafted it. Keep in mind that for a Power of Attorney to be legally valid, the principal must be an adult who is mentally competent when they sign. In the event that the principal is already incapacitated and unable to make their own decisions, a conservatorship might be necessary. When managing such a scenario, it is a good idea for you to speak with a lawyer.
If you are over 18 years old, you ought to have a Power of Attorney. Although it can be unpleasant to acknowledge, there could come a day when you can no longer sort out your affairs on your own. There will also be moments when you're merely unavailable. Typical circumstances in which you may find PoA forms to be helpful include:
Whether this Kentucky Power of Attorney has been produced as a result of an unexpected emergency or as part of a forward-looking plan, witnesses and notarization will often help to protect your agent if a third party disputes their privileges.
PoA documents can be categorized in several ways. They are mainly based on how long the powers will remain valid, when they will come into effect, and what they will grant authority over. Often, you'll see them organized into these four groups:
When generating your free Kentucky Power of Attorney, you may elect to have the authority begin on a selected date, immediately upon signing, or only at the point when you are no longer capable. Your Power of Attorney may end on a particular date or when you pass away.
Kentucky Power of Attorney forms are typically simple; however, you might still need legal advice. Depending on whom you contact, some attorneys will not even agree to review your document if they were not the person who wrote it. A more favorable approach worth consideration is to request help from attorney services at Rocket Lawyer. By signing up for a Premium membership, you have the ability to request guidance from an experienced attorney or ask additional questions related to your Power of Attorney. As always, Rocket Lawyer is here for you.
The cost of finding and working with a traditional legal provider to write a Power of Attorney could add up to anywhere between $200 and $500. Rocket Lawyer can offer much more protection than many other Power of Attorney template providers that you may come across. As a Rocket Lawyer member, you can get up to a 40% discount when hiring an On Call attorney.
Your Power of Attorney has a list of instructions for what to do next. You also may interact with the document in any or all of the following ways: editing it, saving it as a PDF document or Word file, and signing it. Finally, you will need to provide a copy of your fully signed document to your agent(s), financial institutions, and other impacted parties.
The rules and restrictions vary by state; however, in Kentucky, your document must be notarized. If your agent will engage in real estate transactions, the Power of Attorney will need to be acknowledged by a notary and recorded or filed with your county.
See Kentucky Power of Attorney law: KRS Chapter 457