Power of Attorney Requirements Michigan

On May 22, 2012 Governor Snyder signed into Law new updates regulating the form and function of power of attorneys. It made several changes, although the changes will not apply to powers of attorney created before the effective date of October 1, 2012. Some of the most noteworthy changes include:

The policy behind these changes is to prevent elder abuse. A power of attorney is a very powerful document because it puts almost complete power into the hands of whomever you designate. It is not to be entered into lightly. These new provisions seek to eliminate what is perceived to be a growing problem of abuse of fiduciary duties via powers of attorney. It remains to be seen whether they will work, and how courts will interpret the new provisions.

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