XP: Anyone Know About Power of Attorney?

GermanGirl2007

I don't know a whole ton about what POA covers, but DH will be out of state until right up until the time we move, so I need to take care of everything here (closing accounts, etc.), so we were planning on giving me POA so that I can close his accounts for him, etc. The POA would expire the day that DH moves into the state.

BUT, I was just thinking that when I sign a lease for our apartment, it will be based off of HIS income and credit since I am laid off right now.  Would POA allow me to lease the apartment based on his income? Or how would that work?  I am thinking that his name would have to be on the lease since it is based off of his income, but can I legally sign a lease for him?  Or what would you do?

I realize this probably sounds really stupid, but I have never had to worry about it before, so I am kind of ignorant to how it works. TIA

jennyk213

What you can do depends on which boxes he marks on the POA.  The standard form gives lots of different options.

GermanGirl2007

So my other question/concern is that DH is in a southern state right now, I am in Wisconsin, our bank accounts are in MN and we are moving to NY.  Does one form cover business in all of those states?  How would that work?

jennyk213

I'm not completely sure.  I know the standard forms created by MN and WI are specific to that state's POA statute so I don't know how that translates to doing business in another state.  Why couldn't you do one for each state that you need to deal with?  You could always check with an attorney to see if they can draft one that covers you in all states.  (disclaimer: this is not legal advice).

The other thing to consider is that some banks or financial institutions may have their own POA form that they'll want you to use.  When I worked at a bank, some customers commented that other banks had their own forms.

Maybe someone else will have a better answer.