[NC] [NC] Will a statutory short form POA allow me to create a trust?
We are creating a STATUTORY SHORT FORM POWER OF ATTORNEY for the purposes of creating a trust, sale of co-owned real estate, and possibly a quitclaim for co-ownership of our house. Will a statutory short form power of attorney allow us to do these things?
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It would depend on the powers that the power of attorney grants in the document.
It is possible to include granting these powers in a power of attorney document.
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We are creating a STATUTORY SHORT FORM POWER OF ATTORNEY for the purposes of creating a trust, sale of co-owned real estate, and possibly a quitclaim for co-ownership of our house. Will a statutory short form power of attorney allow us to do these things?
Lexi, Chatbot
I understand you are working on creating a STATUTORY SHORT FORM POWER OF ATTORNEY for various purposes. Have you consulted with a lawyer to ensure that this document covers all the necessary legal aspects for your specific situation?
No
Lexi, Chatbot
Are you looking for guidance on how to properly execute and implement the statutory short form power of attorney for these specific transactions?
Yes
Lexi, Chatbot
Is there anything else the Lawyer should know before I connect you? Rest assured they’ll be able to help with your legal needs. How can I assist you further in connecting with a lawyer?
No
Evan
Thanks for using AskaLawyer. My name is Evan and I will be answering your question.
Thank you Evan.
Evan
It would depend on the powers that the power of attorney grants in the document.
It is possible to include granting these powers in a power of attorney document.
We filled out the form, checking everything that was standard and didn’t add any special cases.
What would be the correct wording for these?
BTW, this is for North Carolina.
Evan
You can review the form to see if those powers are specified.
Each form can be infinitely different in the powers it grants.
"I grant my agent and any successor agent general authority to act for me with respect to the following subjects as defined in the North Carolina Uniform Power of Attorney Act, Chapter 32C of the General Statutes:
(INITIAL each subject you want to include in the agent’s general authority. If you wish to grant general authority over all of the subjects you may initial “All Preceding Subjects” instead of initialing each subject.)
() Real Property
() Tangible Personal Property
(____) Stocks"
Evan
It looks like real property would cover the house.
"() Commodities and Options
() Banks and Other Financial Institutions
() Operation of Entity
() Insurance and Annuities
() Estates, Trusts, and Other Beneficial Interests
() Claims and Litigation
() Personal and Family Maintenance
() Benefits from Governmental Programs or Civil or Military Service
() Retirement Plans
() Taxes
(____) All Preceding Subjects"
Evan
And the Estates, Trusts, and Other Beneficial Interests may cover the creation of the trust.
OK, so based on your understanding, these might cover our needs.
Evan
Correct. You can point to the specific powers granted in the document for each situation.
OK, we don’t know much about the quitclaim concept. Do you think this could be executed in my wife’s absence? She may be out of the country when I am trying to get this done.
Evan
The power of attorney may allow it legally, but there may be issues later when there is a title search done and questions about the transfer.
It is generally recommended to do a traditional transfer if possible.
If they sign the power of attorney they can typically sign the deed at the same time.
Evan
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