You became a legal adult upon turning 18. Excluding a few restrictions, like drinking alcohol and applying for federal student aid as an independent student, 18-year-olds assume all the rights and responsibilities of legal adults in this country. There are certain scenarios, however, in which you may need another party to act on your behalf, no matter how old you are. In order for this to happen, though, you must create a power of attorney. Here, the knowledgeable team at Cincinnati’s Lance S. Cox, Attorney At Law explains what Ohio residents should know about establishing a POA arrangement. 

Principal Requirements

The principal is the individual who actually creates the power of attorney document and grants someone else the legal authority to act on his or her behalf. In general, there are two requirements that all principals must meet: They must be at least 18 years old, and they must be of sound mind. If you meet this criterion, you should be able to establish POA arrangements. 

Agent Requirements

The agent is the individual who is granted the right to act on the principal’s behalf. The same requirements that apply to principals apply to agents: They must be considered legal adults, and they must be mentally competent. As for choosing a specific individual, the reason for creating the POA will determine whom you should name as the agent. For example, if you simply need someone to sign for you once—at a real estate closing, for example—age does not matter. When creating a health care POA, on the other hand, it is wise to name someone who is likely to outlive you. 

Document Requirements

In addition to the principal and agent criteria mentioned above, there are more general requirements that all POA documents must meet in order to be legally binding. For example, they must typically be signed by the principal and then either notarized or signed by two witnesses. These documents must also be dated and should include a statement from the notary certifying the principal is of sound mind and is not signing under duress. 

If you want to draft a power of attorney in Ohio, turn to Lance S. Cox, Attorney At Law. For more than three decades, he has been helping clients and their families create powers of attorney and comprehensive estate plans. Areas of expertise include wills, trusts, and probate. Visit his website to learn more, and then call (513) 528-6000 to schedule an initial consultation.