Power of Attorney Form for Indiana

INDIANA STATUTORY DURABLE POWER OF ATTORNEY

DOCUMENT ID: IN-DPOA-2024-V1
EFFECTIVE DATE: [Effective Date]
VERSION: 1.0.4
GOVERNING JURISDICTION: State of Indiana (IC § 30-5)

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1. STATUTORY & LEGAL COMPLIANCE NOTICE

NOTICE TO THE PRINCIPAL: THE POWERS GRANTED BY THIS DOCUMENT ARE BROAD AND SWEEPING. THEY ARE DEFINED IN THE INDIANA POWER OF ATTORNEY ACT, INDIANA CODE § 30-5. IF YOU HAVE ANY QUESTIONS ABOUT THESE POWERS, YOU SHOULD OBTAIN COMPETENT LEGAL ADVICE. THIS DOCUMENT DOES NOT AUTHORIZE ANYONE TO MAKE MEDICAL AND OTHER HEALTH-CARE DECISIONS FOR YOU. YOU MAY REVOKE THIS POWER OF ATTORNEY IF YOU LATER WISH TO DO SO.

NOTICE TO THE ATTORNEY-IN-FACT: BY ACCEPTING OR ACTING UNDER THIS APPOINTMENT, YOU ASSUME THE FIDUCIARY AND OTHER LEGAL RESPONSIBILITIES OF AN ATTORNEY-IN-FACT.

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2. IDENTIFICATION OF PARTIES

2.1 PRINCIPAL:
The undersigned, [Principal Full Legal Name], residing at [Principal Street Address, City, State, Zip Code] (the "Principal"), hereby designates and appoints the following individual as the Attorney-in-Fact.

2.2 ATTORNEY-IN-FACT:
[Attorney-in-Fact Full Legal Name], residing at [Agent Street Address, City, State, Zip Code] (the "Attorney-in-Fact").

2.3 SUCCESSOR ATTORNEY-IN-FACT (OPTIONAL):
In the event the primary Attorney-in-Fact is unable or unwilling to serve, I appoint [Successor Full Legal Name], residing at [Successor Street Address, City, State, Zip Code].

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3. GRANT OF AUTHORITY (OPERATIVE CLAUSES)

The Principal hereby grants to the Attorney-in-Fact full power and authority to perform any act and exercise any power that the Principal could do personally, subject to the following sections. This Power of Attorney incorporates by reference all powers listed in Indiana Code § 30-5-5-2 through § 30-5-5-19.

3.1 REAL PROPERTY TRANSACTIONS (IC § 30-5-5-2):
Authority to buy, sell, mortgage, lease, or otherwise manage real estate in the name of the Principal.

3.2 TANGIBLE PERSONAL PROPERTY (IC § 30-5-5-3):
Authority to buy, sell, lease, or exchange tangible personal property.

3.3 BOND, SHARE, AND COMMODITY TRANSACTIONS (IC § 30-5-5-4):
Authority to trade stocks, bonds, and other securities.

3.4 BANKING TRANSACTIONS (IC § 30-5-5-5):
Authority to conduct any business with financial institutions, including opening/closing accounts, withdrawing funds, and signing checks.

3.5 BUSINESS OPERATING TRANSACTIONS (IC § 30-5-5-6):
Authority to manage and operate any business interest owned by the Principal.

3.6 INSURANCE TRANSACTIONS (IC § 30-5-5-7):
Authority to purchase, maintain, or surrender insurance policies and annuities.

3.7 BENEFICIARY TRANSACTIONS (IC § 30-5-5-8):
Authority to act for the Principal in all matters affecting a trust, probate estate, or other fund from which the Principal may be entitled to a payment.

3.8 GIFT TRANSACTIONS (IC § 30-5-5-9):
Authority to make gifts to organizations or individuals within the limits of the law and the Principal's prior pattern of giving.

3.9 FIDUCIARY TRANSACTIONS (IC § 30-5-5-10):
Authority to act for the Principal in any fiduciary capacity.

3.10 CLAIMS AND LITIGATION (IC § 30-5-5-11):
Authority to institute, prosecute, defend, or settle any legal proceedings or claims.

3.11 FAMILY MAINTENANCE (IC § 30-5-5-12):
Authority to provide for the support and maintenance of the Principal’s family.

3.12 BENEFITS FROM MILITARY SERVICE (IC § 30-5-5-13):
Authority to enroll in or claim benefits from any military or government program.

3.13 RECORDS, REPORTS, AND STATEMENTS (IC § 30-5-5-14):
Authority to keep records and execute any documents necessary to implement the powers granted herein.

3.14 ESTATE TRANSACTIONS (IC § 30-5-5-15):
Authority to perform acts regarding the Principal's estate.

3.15 TAX MATTERS (IC § 30-5-5-16):
Authority to prepare, sign, and file federal, state, and local tax returns (including IRS Form 2848).

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4. DURABILITY & EFFECTIVE DATE

4.1 DURABILITY:
Pursuant to IC § 30-5-10-3, this Power of Attorney is "Durable." This Power of Attorney is not terminated by the subsequent incapacity or mental incompetence of the Principal.

4.2 EFFECTIVE DATE:
This Power of Attorney shall become effective immediately upon the date of execution.

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5. ADMINISTRATIVE PROVISIONS

5.1 COMPENSATION & REIMBURSEMENT:
The Attorney-in-Fact is entitled to reimbursement for all reasonable expenses incurred on behalf of the Principal. The Attorney-in-Fact [Select One: SHALL / SHALL NOT] be entitled to reasonable compensation for services rendered.

5.2 RELIANCE BY THIRD PARTIES:
No person or institution who relies in good faith upon the representations of the Attorney-in-Fact or this document shall be liable to the Principal or the Principal’s estate for following the instructions of the Attorney-in-Fact.

5.3 REVOCATION:
The Principal may revoke this Power of Attorney at any time by providing written notice to the Attorney-in-Fact and, if recorded, by recording a revocation in the Office of the Recorder where the original was filed.

5.4 INDEMNIFICATION:
The Principal’s estate shall indemnify and hold the Attorney-in-Fact harmless from any and all liability for acts performed in good faith pursuant to this document.

5.5 SEVERABILITY:
If any provision of this document is held invalid, such invalidity shall not affect other provisions that can be given effect without the invalid provision.

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6. EXECUTION & FORMAL SIGNATURE BLOCKS

FOR THE PRINCIPAL: By signing below, I, [Principal Full Legal Name], acknowledge that I understand the contents of this document and the powers I am granting.

Signature: _____________________________________
Printed Name: [Principal Full Legal Name]
Date: [Date]
Address: [Principal Street Address]

NOTARY ACKNOWLEDGMENT STATE OF INDIANA ) COUNTY OF _______________ ) SS:

Before me, a Notary Public in and for said County and State, personally appeared [Principal Full Legal Name], who acknowledged the execution of the foregoing Durable Power of Attorney.

Witness my hand and Notarial Seal this ____ day of ____________, 20.

Signature: _____________________________________
Printed Name: __________________________________
My Commission Expires: _________________________
County of Residence: ___________________________

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FOR THE ATTORNEY-IN-FACT (ACCEPTANCE): I, [Attorney-in-Fact Full Legal Name], have read the attached Power of Attorney and am the person identified as the Attorney-in-Fact for the Principal. I hereby accept this appointment and agree to act in a fiduciary capacity.

Signature: _____________________________________
Printed Name: [Attorney-in-Fact Full Legal Name]
Title: Attorney-in-Fact
Date: [Date]

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7. STEP-BY-STEP EXECUTION & FILING GUIDE

1. Preparation: Open this document in a word processor. Search and Replace all bracketed fields (e.g., [Principal Full Legal Name]) with the specific legal names and addresses. Ensure no brackets remain.
2. Notary Search: In Indiana, a Power of Attorney must be notarized to be valid and recordable. Locate a Notary Public (often found at banks, UPS stores, or law offices).
3. Physical Execution:
   • The Principal must sign the document in the physical presence of the Notary Public.
   • The Notary must complete the Notary Acknowledgment section and affix their seal/stamp.
4. Agent Acceptance: While not strictly required by Indiana law for the document's validity, having the Attorney-in-Fact sign the "Acceptance" block is a best practice for institutional recognition (banks).
5. Digital Execution (Optional): If using DocuSign or Adobe Sign, ensure the e-signature solution complies with the Indiana Uniform Electronic Transactions Act (IC § 26-2-8). However, for real estate transactions, a physical "wet" signature is highly recommended to satisfy County Recorder requirements.
6. Recording: If the Attorney-in-Fact will be handling real estate, a copy of this Power of Attorney MUST be recorded in the Office of the Recorder in the Indiana county where the real estate is located (IC § 30-5-3-3).
7. Distribution & Retention:
   • Keep the Original in a secure, fireproof location.
   • Provide a Certified Copy to the Attorney-in-Fact.
   • Provide copies to the Principal’s financial institutions and banks to be placed "on file."