To prepare a Tennessee Financial Power of Attorney, you will first need to name a representative you can trust to manage all your financial needs (See all acts authorized by viewing State Statute 34-6-109), otherwise known as an Attorney-In-Fact. This individual does not to be an actual attorney, but the individual selected should be someone you trust and have known for a long time. It is also recommended to name an alternative in case your first choice turns out to be unavailable at times when needed.
You can cancel your Financial Power of Attorney at any time with a revocation form while you are still competent. If, as is often the case, you choose your spouse as your Attorney-In-Fact, note that in Tennessee, the agreement doesn’t end automatically upon divorce. Upon authorization in front of a notary public or two (2) witnesses will this form be legal for use.