On November 7, 2023, Governor Gretchen Whitmer signed into law Michigan’s House Bill 4644, which enacts the Uniform Power of Attorney Act (UPOAA). Taking effect on July 1, 2024, Michigan will join 30 other states in recognizing a version of this unified framework. This increases uniformity, accessibility, and coherence of Powers of Attorney (POA). Major changes include:
- Michigan residents will gain access to a statutory POA form. This should decrease the number of guardianships and conservatorships by giving the public easy access to creating POAs.
- Notarized POAs will be uniformly accepted. This applies to notarized POAs executed before July 1, 2024, also.
- The UPOAA provides a standard set of rules for POAs. For example, if the POA is executed in compliance with certain requirements, the POA will now automatically be durable under the UPOAA.
It is important to note that the UPOAA does not invalidate your current POA, as long as your POA was validly executed. That said, the UPOAA will mandate many changes, and it may be a good time to take a look at your POA. Proactive steps you may wish to take include:
- Make sure your POA is notarized. If it is not, think about re-executing it to take advantage of the protections that the UPOAA guarantees to acknowledged POAs.
- Look at your POA and make sure that the agents you selected are still willing to serve in this capacity. Make necessary updates.
- Provide your agents with copies of your POA documents.
- Provide copies of your POA to any institutions that would find them necessary, for example financial institutions. Verify that they will accept these POA documents.
Changing regulations and frameworks can make for confusing times. We at Michigan Law Center, PLLC, look forward to helping you with any questions you have about this new system. This is also an excellent time to revisit your estate plan to ensure it meets your goals. Please contact us to book a consultation.
