Should I Have Two Powers of Attorney if the Agent Lives in Another State?
Full Question:
Answer:
A power of attorney that complies with the laws of the state may appoint a person who resides outside the state as the agent (attorney-in-fact) for the principal (person making the power of attorney). A power of attorney is governed by the law of the jurisdiction where the actions of the attorney-in-fact will be performed. Usuallly, this is where the property of the principal is located. It is generally not recommended to appoint an agent who resides in a different jurisdiction, unless the property or assets involved are also in the different jurisdiction. When the agent will be acting in more than one jurisdiction, separate powers of attorney for each jurisdiction are recommended. Therefore, if the person has assets in New York, or the agent may be conducting transactions with entities in Florida a power of attorney for New York or Florida may be advisable. The power of attorney should be drafted to comply with the laws of the state where the property is located or transactions will be taking place. The power of attorney forms offered by USLegal are state specific forms.