The Law on an Iowa Power of Attorney Explained

Create a Power of Attorney The Law on an Iowa Power of Attorney Explained

Safeguard Your Finances With an Iowa Power of Attorney

A power of attorney (POA) is the safest way to ensure your interests are being looked after when you are no longer able to do it yourself.

As a legal document, a power of attorney can be complex and expensive to draw up if you go the traditional route of having it done by a lawyer.

DoNotPay has the solution and can help you with legislation specific to granting a power of attorney in Iowa. Get all the help you need with an Iowa power of attorney from DoNotPay!

What Is the Law on Power of Attorney in Iowa?

Powers of attorney in Iowa are governed by the Iowa Uniform Power of Attorney Act.

The act covers financial powers of attorney (as opposed to other types). It was introduced in 2014 to replace older legislation that left too many loopholes.

Under the 2014 act, a power of attorney in Iowa is:

  1. Durable by default
  2. Effective immediately

Durable by Default

Any power of attorney in Iowa is automatically a durable one. If you want your power of attorney to be general—invalid once you become incapacitated—you need to specify this condition in your document. Any limits on the power of attorney need to be clarified as well.

Effective Immediately

Powers of attorney in Iowa come into immediate effect unless otherwise specified. If you are looking for a springing power of attorney—one that only becomes valid when you are incapacitated—you need to state this clearly.

What Is Your Agent Allowed To Do in Iowa?

The act refers to you as “the principal” and your designated other party as “the agent.” Under its terms, your agent is allowed to:

  • Pay your bills, including medical expenses
  • Carry out any financial transactions specifically referred to in the power of attorney
  • Represent your financial interests towards third parties, such as creditors, banks, and tax authorities
  • Keep your business running
  • Provide for your family’s ongoing financial needs

Your agent is not allowed to make any medical or healthcare-related decisions on your behalf or to change your will.

How Do You Grant a Power of Attorney in Iowa?

The process of granting a power of attorney in Iowa is complex but manageable if you follow all the steps:

Steps To FollowExplanation
Choose your agentAn agent will act for you until you pass away or they are unable to fulfill their task anymore. It is a long-term commitment, so you should choose someone you trust and who will be around for long enough to fulfill the obligations of the role
Decide what your agent should doYou should stipulate exactly what limits you want to place on your agent—you may, as an example, want to allow day-to-day financial transactions but disallow any long-term investment or property decisions
Draft a power of attorney documentYour POA document can be in the form of a letter or a full legal document, depending on the complexity of your conditions
Sign and notarize the documentYou must sign the document in the presence of a notary. The notary’s function is to affirm that you were:

  • Physically present at the signing
  • Of sound mind
  • Not under duress at the time

When Does Your Power of Attorney End in Iowa?

A power of attorney in Iowa ends when:

  • You pass away
  • You revoke the POA
  • A spouse named in your POA gets divorced from you
  • The agent becomes unable or unwilling to carry on performing the function

A POA is one of the most important documents you can sign, so getting it right is paramount.

You can use a lawyer to set up a power of attorney for you, but this can quickly become expensive and complicated. If you have prepared what you want your POA to achieve, we can give you a much simpler and more cost-effective option.

DoNotPay’s solution is simple—we can create a power of attorney document for you online in a few clicks!

Create an Iowa Power of Attorney Form With DoNotPay

DoNotPay is the expert at simplifying legal processes, saving you time and money. Setting up a power of attorney is no exception—we can generate a power of attorney document for you in three easy steps:

  1. Sign up with DoNotPay in your web browser
  2. Click on our Create a Power of Attorney feature
  3. Fill in the details you want included in your document

You will need to list the duties you want your agent to perform, including:

  • Managing your business
  • Selling your property
  • Changing your account beneficiaries
  • Making gifts on your behalf

Once all the details are filled in, DoNotPay will do the rest. We will generate your POA document together with important notices for you and your agent. You can now go ahead and schedule your appointment with an online notary using our app!

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