KRS 457 Power of Attorney
This past July Kentucky joined many states who have aligned with the Uniform Power of Attorney Act (UPOAA) which overhauled Kentucky’s Power of Attorney statutes. The new and improved KRS 457 applies to all Power of Attorneys “created before, on, or after July 14, 2018” but does not affect an act prior to July 14, 2018. Powers of Attorney created before July 14, 2018 remain valid, but the new provisions do impact existing Powers of Attorney.
One of the most significant changes to the new Kentucky law is execution requirements. Previously, the signature of the principal had to be notarized and witnesses were not required. However, the new act requires the principal to sign the document in the presence of two (2) disinterested witnesses in addition to a notary public. Additional notable changes include new responsibilities on agents (the power of attorney) and specificity as to who is required to accept the Power of Attorney.
Does this Law Change Affect You?
Powers of Attorney are vital and necessary documents and should be evaluated every few years to maintain accuracy and to reflect current laws. If you have specific questions regarding your Power of Attorney or creating a new Power of Attorney contact Gatlin Voelker today! (859) 781-9100