North Dakota Durable Power of Attorney (Financial)

Last Updated: 6/15/2015

Document Description

A power of attorney is a legal document that gives someone else the right to act on your behalf. There are different kinds of powers of attorney, including the durable power of attorney for finances.

A financial power of attorney authorizes someone else to act for you, but only in matters related to your property or financial affairs. This person will not be allowed to make any healthcare decisions for you. The completion of this document must be done voluntarily, while you are deemed of sound mind. As you are authorizing someone else to have important power over your financial affairs, this document is not to be taken lightly.

As the principal, or the person creating the financial power of attorney, you must decide when the document takes effect. You can make it effective immediately and despite any future incapacitation (which makes it durable), or only if you are ever declared unable to care for your own affairs. This declaration must be done in writing by your physician.

The North Dakota Financial Power of Attorney follows North Dakota laws and regulations. Once signed, witnessed and notarized according to instructions, it becomes a legal document. The person you name will then become your agent and will be authorized to act on your behalf, so it’s crucial to choose someone you trust.

The North Dakota Financial Power of Attorney also allows for great flexibility. This form lets you choose from a detailed list of possible powers, including banking, government benefits, investments, taxes, real estate and more. As per North Dakota law, it does not allow your agent to make changes to your will, or make healthcare decisions on your behalf.

To learn more about all estate planning forms, please see our pages for Wills and Inheritance, Health Planning, Financial and Retirement Planning and Tax Planning.

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