The Iowa General Power of Attorney Form gives the Attorney-in-Fact the power to manage almost all of the Principal’s financial matters. This includes depositing or withdrawing from the Principal’s bank accounts, purchasing insurance and overseeing the Principal’s investments. In some states this can include childcare, but Iowa is not one of them.
Under Iowa state law, Power of Attorney Agreements will take effect immediately upon being signed unless the agreement states otherwise. In addition, it should be noted that an Iowa Power of Attorney agreement does not require any witnesses, unless it is a medical agreement. The Principal should make sure they read over the agreement carefully, in order to ensure they are signing over the exact powers they want and under the circumstances they want. If they are unsure that they wish to grant their Attorney-in-Fact all of the power specified in a General Power of Attorney Form, they may wish to consider a Limited Power of Attorney Form.