The Uniform Power of Attorney Act (UPOAA) provides uniformity when exercising powers of attorney, especially for people who move to another state after creating the document.
Gov. Gretchen Whitmer recently signed the UPOAA into law. The Act repeals some provisions of Michigan’s Estate and Protected Individuals Code (EPIC) and will go into effect on July 1, 2024.
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What is a Power of Attorney?
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A power of attorney is a legal document executed by an individual which grants authority to another individual to act on his or her behalf in matters related to financial or healthcare decisions.
What is the UPOAA?
Developed by the Uniform Law Commission in 2006, the UPOAA is a model statute that provides consistency in the application of powers of attorney. Michigan joins 30 states in adopting this statute. The UPOAA grants authority to an agent to act on behalf of a principal with certain exceptions.
The UPOAA provides the following:
- Establishes a durable power of attorney process in Michigan that generally provides for the authorities, powers, and duties of an agent and principal under a power of attorney and the execution and termination of a power of attorney.
- Entitles an agent to reimbursement of expenses incurred and compensation for services rendered on behalf of a principal unless prohibited under a power of attorney.
- Allows specified individuals associated with a principal, such as a principal’s caregiver or heir, to petition a court to review an agent’s conduct under a power of attorney.
- Prescribes restitution requirements if an agent violated a power of attorney.
- Provides a model form that may be used to create a power of attorney that has the meaning and effect prescribed by the Act.
Why was the UPOAA signed into law in Michigan?
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Laws governing powers of attorney vary from state to state, which may cause problems in the enforcement of powers of attorney. The UPOAA helps to standardize laws concerning powers of attorney.
What about powers of attorney created before the Act?
It is important to note that the UPOAA does not invalidate powers of attorney executed before the Act, as long as those powers were executed in accordance with Michigan’s requirements at the time the power was enacted.
Help is available
The estate planning attorneys at O’Reilly Rancilio are available to answer your questions regarding powers of attorney and the UPOAA. To speak with an attorney, please call 586-726-1000 or visit our website.
Source: https://t-tees.com
Category: WHICH
