How Much Does a Power of Attorney Cost?
- How much does a power of attorney cost? The answer depends on whether you need the advice of an attorney to create this legal document for family caregivers.
How much does a power of attorney cost? Family caregivers can create this legal document at little to no cost. Having a power of attorney, or POA, allows you to manage your family member's financial and/or medical affairs in the eyes of the court. The POA names the person you provide care for as the principal and you, the caregiver, as the agent.
How Much Will I Pay for a POA?
The cost of a POA varies by state. Some provide low-cost assistance from a legal aid attorney or have free online forms. You can also buy a template for a POA online, usually for less than $50.
Most states require you to notarize a POA before it becomes valid. The cost for a notary is usually less than $10 per signature, as established by state law. You might have to pay travel fees if you need the notary to come to your loved one's home or hospital room.
A POA becomes more expensive if you hire an attorney to draft this document for you. Most sources report that the price ranges from $200 to $800, depending on where you live and the complexity of your case.
Do You Need a Lawyer to Write a POA?
If your loved one has a relatively straightforward situation, you can probably use a free or low-cost online POA template without worry. However, you might want to consult an estate planning or elder law attorney if:
- You disagree with another family member about who should serve as the agent.
- More than one family member will share joint power of attorney.
- The principal (your loved one) has complex finances.
- You have questions about the POA process.
- You want to tailor the language of the POA to your specific situation.
An attorney will not only create the POA on your behalf, but they'll also make sure you understand how this legal document works and ensure it reflects your intentions and your loved one's best interests. They will also make sure the finalized document conforms with the laws of your state.