A Kentucky Standard Power of Attorney Form is designed to allow the Attorney-in-Fact to manage the Principal’s finances. This will usually include the Principal’s investments, bank accounts and bills, although it can on occasion cover other elements of the Principal’s financial responsibilities. These agreements are usually Non-Springing, IE they will go into effect immediately upon being signed.
Under Kentucky state law, at least two (2) adult witnesses are required in order for a Power of Attorney Agreement to be valid. In addition, this agreement will not automatically be durable, and will therefore become void if the Principal is rendered incapacitated, unless the agreement specifically states otherwise. The Principal should be exceptionally sure about what powers they are handing over with this agreement, and may wish to consider a Limited Power of Attorney.