Iron County Durable Power of Attorney Form (Michigan)

The following Michigan and Iron County supplemental forms are included as a courtesy with your order:

When using these Durable Power of Attorney forms, the subject real estate must be physically located in Iron County. The executed documents should then be recorded in the following office:

Local jurisdictions located in Iron County include:

• Alpha
• Amasa
• Caspian
• Crystal Falls
• Gaastra
• Iron River
• Stambaugh

The Principal designates an attorney in fact and contains the words ("This power of attorney is not affected by the principal's subsequent disability or incapacity, or by the lapse of time", or "This power of attorney is effective upon the disability or incapacity of the principal" or similar words showing the principal's intent that the authority conferred is exercisable notwithstanding the principal's subsequent disability or incapacity and, unless the power states a termination time, notwithstanding the lapse of time since the execution of the instrument) (sec.5501.(a))
Sec 5501. (3) An attorney-in-fact designated and acting under a durable power of attorney has the authority, rights, responsibilities, and limitations as provided by law with respect to a durable power of attorney, including, but not limited to, all of the following:
(a) Except as provided in the durable power of attorney, the attorney-in-fact shall act in accordance with the standards of care applicable to fiduciaries exercising powers under a durable power of attorney.
(b) The attorney-in-fact shall take reasonable steps to follow the instructions of the principal.
(c) Upon request of the principal, the attorney-in-fact shall keep the principal informed of the attorney-in-fact's actions. The attorney-in-fact shall provide an accounting to the principal upon request of the principal, to a conservator or guardian appointed on behalf of the principal upon request of the guardian or conservator, or pursuant to judicial order.
(d) The attorney-in-fact shall not make a gift of all or any part of the principal's assets, unless provided for in the durable power of attorney or by judicial order.
(e) Unless provided in the durable power of attorney or by judicial order, the attorney-in-fact, while acting as attorney-in-fact, shall not create an account or other asset in joint tenancy between the principal and the attorney-in-fact.
(f) The attorney-in-fact shall maintain records of the attorney-in-fact's actions on behalf of the principal, including transactions, receipts, disbursements, and investments.
(g) The attorney-in-fact may be liable for any damage or loss to the principal, and may be subject to any other available remedy, for breach of fiduciary duty owed to the principal. In the durable power of attorney, the principal may exonerate the attorney-in-fact of any liability to the principal for breach of fiduciary duty except for actions committed by the attorney-in-fact in bad faith or with reckless indifference. An exoneration clause is not enforceable if inserted as the result of an abuse by the attorney-in-fact of a fiduciary or confidential relationship to the principal.
(h) The attorney-in-fact may receive reasonable compensation for the attorney-in-fact's services if provided for in the durable power of attorney

MICHIGAN DURABLE POA
SECTION A: GENERAL POWERS
1. Manage assets.
2. Debts and expenses.
3. Bank Accounts.
4. Deposits and withdrawals.
5. Checks.
6. Borrowing.
7. Collection powers.
8. Safe deposit box.
9. Securities and investments.
10. Litigation
11. Insurance, annuities, and benefit plans.
12. College savings accounts
13. Taxes
14. Services.
15. Support.
16. Government benefits.
17. Medicaid Qualification
18. Access to Digital Assets (Including Content).
SECTION B: EXTRAORDINARY POWERS AND LIMITATIONS
1. Gifts
2. Gifts from trust
3. Creating Joint Tenancy.
4. Create trusts
5. Amend, revoke, restate, reform, and terminate trusts
6. Transfer assets to trusts
7. Withdraw income and principal from trusts
8. Disclaimer.
9. Intent of Principal with regard to paying for my care and needs
10. Limitation on Agent liability for investments
11. Limitation on Agent liability for preservation of the estate plan
12. Amend/Revoke Funeral Representative Designation
SECTION C: POWERS RELATED TO MY PERSONAL CARE
l. Establish residency.
2. Care contracts
3. Medical and personal records
4. Privacy rights
SECTION D: OTHER PROVISIONS
l. Incidental authority
2. Nomination of Agent as conservator
3. Compensation of Agent
4. Use of copies
5. Durability.
6. Third-party reliance
7. Special Instructions

(Michigan DPOA Package includes form, guidelines, and completed example) For use in Michigan only.

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