New Jersey power of attorney allows a person (known as the “principal”) to select someone else (known as the “agent” or “attorney-in-fact”) to maintain authority over their financial matters, healthcare decisions, and other personal and/or business affairs. There may be a point in a person’s life where they feel they want to hand over certain powers related to their personal or business life to a trusted individual. Having a power of attorney in place means that the agent can perform certain tasks for the principal and, in some cases, this power will continue even if something happens to the principal, such as mental or physical disability or another type of incapacitation. The principal should be rational when making their selection; an attorney-in-fact must be trustworthy, competent, and responsible.
Laws – Title 46, Chapter 2B (Property – Revised Durable Power of Attorney Act)
A New Jersey durable (financial) power of attorney is a document that authorizes another person to handle a person’s financial matters. The authorized individual, or ‘attorney-in-fact,’ can be given control over all or a part of the principal’s personal and/or business finances. The principal should appoint someone who is reliable, possibly a relative or close friend, who will act in the principal’s best interest. This…
A New Jersey general power of attorney form is designed to transfer control of financial affairs from the principal to an appointed agent. The agent will be authorized to act on the principal’s behalf regarding property and asset management, personal finances, business matters, and any other affairs the principal establishes in the agreement. It is recommended that the appointed agent be a close friend, a…
A New Jersey medical power of attorney form is a two-part document consisting of a living will portion as well as a power of attorney section for healthcare. The principal can choose to complete one of these sections or both. The power of attorney section (proxy directive) is used for appointing a healthcare representative to make decisions on the principal’s behalf if they are unable…
A New Jersey motor vehicle power of attorney form is a document that assigns certain vehicle-related authorizations from the principal to an appointed attorney-in-fact. This power of attorney document is limited to requests that are completed through the New Jersey Motor Vehicle Commission. A person may wish to have someone else represent them in dealings with the Motor Vehicle Commission in regard to vehicle registration,…
A New Jersey limited power of attorney form is created by a principal for the purposes of delegating certain financial powers to an appointed individual (attorney-in-fact). While this agreement is in place, the attorney-in-fact will be given authorization to act on the principal’s behalf. Their powers will be limited to specific tasks and powers as set forth in the document. This type of power of…
A New Jersey minor guardianship power of attorney form, when executed properly, designates an eligible individual as a temporary guardian over a person’s child or children. The appointed guardian will handle all responsibilities and tasks associated with parenting such as educational matters, healthcare decisions, disciplinary actions, and other key components of raising a child. A guardianship power of attorney is often established in situations where…
A New Jersey revocation of power of attorney form can be produced should a principal wish to annul any type of power of attorney document. The revocation form must be clear as to the name of the original power of attorney document and the date upon which it will be terminated. Once the revocation form is filled out, the principal must provide copies to the…
A New Jersey tax power of attorney form (Form M-5008-R) is used to appoint an agent or an entity to handle a person’s taxes with the Division of Taxation. In most cases, the principal will hire a tax accountant or other certified professional to represent them in these matters. The principal can select the types of power and authorizations the appointed agent will have. If…
A New Jersey real estate power of attorney is a legal contract that can be used by property owners to give agents the power to make real estate decisions on their behalf. The most common purpose of appointing a real estate agent is to close a real estate sale. However, an agent may also be appointed to be a property manager, real estate buyer, and/or…
A New Jersey living will is a legal document explaining a patient’s wishes regarding life-sustaining treatment if they are ever terminally ill or permanently unconscious. Life-sustaining treatment is any medical procedure or therapy using artificial means to sustain a vital bodily function of life. A living will can also designate a medical proxy to make decisions on behalf of the patient. Laws Statute – §26:2H-54(b)…
