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.