What Does The New Michigan Uniform Power of Attorney Act Change?

Durability of Power of Attorney

If a power of attorney is executed in compliance with statutory requirements, it will automatically be durable without any need for an affirmative statement of durability in the power of attorney. This will help to ensure the principal’s wishes are followed in the event of a serious illness, debilitating injury or devastating accident. 

 

Statutory Forms and Legal Consultation

 

A potential positive outcome is that fewer guardianships and conservatorships will be necessary as the knowledge to create the document becomes more common. 

 

General and Specific Authority

 

General powers include authority over real and personal property, banking, stocks, bonds and other financial investments, insurance, annuities, litigation and claims, retirement and governmental benefits, and taxes. The form allows the principal to grant some or all the general powers to the agent. 

 

Learn more about the new Michigan Uniform Power of Attorney Act here.

 

Get Started Today: Schedule Your Consultation!

 

If you have questions regarding the New Michigan Uniform Power of Attorney Act, talk to an estate planning attorney in Ann Arbor before doing anything.

The New Michigan Uniform Power of Attorney Act

Did you know that the Michigan Uniform Power of Attorney Act (UPOAA), signed into law by Governor Gretchen Whitmer on November 7, 2023, took effect on July 1, 2024? What does this mean for you in regards to estate planning? Pear Sperling Eggan & Daniels, P.C. is here for you when it comes to answering all your legal questions and making sure you’re setup for success.

The UPOAA Act replaces the prior Michigan power of attorney law, designed to promote standardization, consistency and ease of use. The Act will help alleviate problems with enforcement previously caused by laws that varied from state to state. The Act provides the agent with broad powers while protecting the principal against abuse and fraud. It also provides the agent with reimbursement for expenses as well as reasonable compensation, unless specifically prohibited by the terms of the power of attorney. 

 

Learn more about the new Michigan Uniform Power of Attorney Act here.

 

Get Started Today: Schedule Your Consultation!

 

If you would like to learn more about estate planning in Ann Arbor, contact us today! Estate planning attorneys at Pear Sperling Eggan & Daniels, P.C., can help assist you with your case and everything in between.