A power of attorney can be given by a person, also known as a principal or grantor. The person who receives the power of attorney is called an agent or attorney in fact.
The action of giving a power of attorney requires that the principal be of sound mind and capable of signing legal documents.
Therefore, a power of attorney isn’t something one can usually “get”, indeed it is something that is “given”.
The signing of a power of attorney requires that a person be of sound mind. This term can be abstract and open to interpretation by various courts. However, Oklahoma courts generally require that a person giving the power of attorney have the mental capacity required to enter into a contract.
Conventionally, this requirement is stricter than some others, including that for making or writing a will.
The principal must be able to comprehend the nature of the power of attorney and what it means. In case the principal’s mental capacity is questionable, it might be sensible to consult a lawyer, to ensure that they are legally fit to sign a power of attorney.
Since there are different types of power of attorney, there might also be different requirements and thresholds for the process. Some POA forms might have to be signed in the presence of witnesses and/or notarized.
In fact, getting the power of attorney notarized is generally considered a good practice and is often strongly recommended. This stands true even if Oklahoma law doesn’t require the type of POA to be notarized.
This can be helpful for legal needs or when dealing with other entities. For example, financial institutions and banks may ask for a notarized power of attorney (as applicable), even if the state law doesn’t specifically have such a requirement.
While the discussion generally focuses on the requirements for the principal, the agent too must be qualified to receive a power of attorney. Usually, this means that the agent should be a legal adult and of sound mental mind to sign a contract.
They should also understand that a POA does not give them power over the principal. Rather, the POA means they can act on behalf of the principal. It’s also their fiduciary duty to act in the interest of the principal.
A principal might also consider other factors like trustworthiness, or capability to carry their wishes as qualifications for an agent.