A power of attorney is a legal document that gives a designated individual, known as an attorney-in-fact or agent, the authority to act on behalf of another person. The laws for appointing a power of attorney vary from state to state.
Who Can Create a Power of Attorney?
To create a power of attorney document in North Dakota, an individual must:
- Be at least 18 years old
- Be of sound mind and able to make decisions
- Sign the document, along with either a notary public or two witnesses
For a power of attorney to be valid in North Dakota, it must be in writing and signed.
Power of Attorney Designations
In North Dakota, you may designate a power of attorney as “general,” granting broad powers to control any or all of the following:
- Financial decisions and banking transactions
- Entering safety deposit boxes
- Giving gifts of money
- Buying and selling property
- Entering into contracts
- Exercising stock rights
- Filing tax returns
Besides a general power of attorney, there are various other types of limited powers of attorney that can appoint an individual or organization to act in a certain capacity, depending upon the powers defined in the document.
In North Dakota, a power of attorney can be durable or nondurable. A nondurable power of attorney automatically terminates when the principal becomes unable to make his own decisions or becomes otherwise incapacitated. A durable POA survives the principal’s incapacity and the agent may still make decisions on his behalf.
If you need legal advice regarding designating a power of attorney, contact a business lawyer at O’Keeffe O’Brien Lyson Attorneys online, or call 701-235-8000 or 877-235-8002 (toll-free) today.
