DPOA Law Changes

Posted by Kim Browning | Nov 07, 2023 | 0 Comments

On November 7, 2023, Governor Whitmer signed the Uniform Power of Attorney Act (UPOAA).  The UPOAA was made effective on July 1, 2024, and modifies the Michigan statutes with regard to Durable Powers of Attorney.

One of the most important changes is that your Durable Power of Attorney must be signed in the presence of a notary public in order for the document to be considered “durable” and qualify as a “genuine” document.  If the document is not considered genuine, it will not be protected by the UPOAA and if it is not considered durable, the authority that you granted to your agent will terminate upon your incapacity.

The UPOAA considers all properly executed (durable and genuine) Durable Powers of Attorney to be immediately effective, unless otherwise stated within the document.

Under the UPOAA the principal must provide the Agent with the specific authority to make the following transactions: make a gift (necessary for long-term care planning), create or change rights of survivorship, create or change a beneficiary designation, delegate authority, etc.

The UPOAA provides the principial with the authority to nominate a specific individual to determine incapacity in powers of attorney requiring this determination.  If the named individual is unable or unwilling to determine incapacity, this determination may be made by a physician, licensed psychologist, attorney at law, judge or an appropriate government official.

The change in law also effects the acceptance of the Durable Power of Attorney.  When presented with an acknowledged Durable Power of Attorney, the person/agency must either accept the document not later than seven (7) business days after being received or request an agent's acknowledgement, translation, or opinion of counsel.  Once that request has been fulfilled to the person/agency the Durable Power of Attorney shall be accepted not later than five (5) business days after receipt.

The UPOAA does not invalidate prior Durable Powers of Attorney which complied with Michigan Law at the time of execution.  However, it is in your best interest to have your estate plan reviewed by a qualified professional to determine if your Durable Power of Attorney should be updated. Call our office today for a consultation to see whether or not you need an update. 

About the Author

Comments

There are no comments for this post. Be the first and Add your Comment below.

Leave a Comment

Comments have been disabled.

We have your whole financial picture in mind.

Call Us Today

About Us

Blue Chip Estate Planning, PLLC is part of the Blue Chip Partners' family of companies offering you the option of a one-stop solution for your estate planning, financial planning, and investment needs. Our goal is to be your All-in-One Solution. Blue Chip Partners, LLC is a wealth management firm that provides highly personalized financial planning and portfolio management services to over 800 clients. Blue Chip Partners has 30 employees and over $1.3 billion in assets under management.

Menu