What is a Notary Public?
A Notary Public functions as an impartial witness to official acts. These acts can be document signings, oaths, verification of identity, and affirmations of truth. The Notary must be unbiased, and are duty-bound not to act in situations in which they have a personal interest.
In most states (Nevada included), it is illegal for a notary public to make the decision on which notarial act is needed. The client must determine that on their own. The notary can explain the differences between the options, but the client must make the final decision. Fortunately, the wording on the document will often indicate which notary act is required.
Specialty Notary Services
Acknowledgements
Acknowledgements are used by a notary public to verify and validate the signature(s) on a document. It is not required for the signatory to sign the document in the notary’s presence*. The signer(s) must simply present themselves with their completed document and identify themselves with valid ID. They must also attest that they signed/are signing the document of their own free will.
*Note – It is NOT required that the document be signed in the presence of the notary, but it IS required that the document contains a valid signature prior to the completion of the notarization.
Jurat
A jurat is a declaration of truthfulness regarding the contents of a document. The signer(s) swear or affirm that the statements made within the document are true and correct to the best of their knowledge. The notary will administer an oath, and the presenter must provide an audible confirmation. This type of notarization MUST be signed in the presence of the notary.
An affidavit would be an example use of a jurat.
Certified Copies
Certified copies are used to confirm that a copy matches the original document exactly. There can be no alterations. In most cases, it is recommended that the document’s custodian present the original, and have the notary make the copy, however, this is not required. The individual requesting the copy must simply state that it is a copy of the original document.
In Nevada, a notary may NOT certify copies of specific documents as restricted by law. Examples of these are:
Birth Certificates
Death Certificates
Marriage Certificates
Divorce & Annulment Decrees
Personal Statement
Often times, someone may need to notarize a personal statement. An example can be a parent giving authorization to another individual to take their child out of state, or maybe giving a grandparent permission to seek medical care if needed.
Personal statements can be typed, printed, or handwritten.
Power of Attorney
A Power of Attorney is used to grant legal decision-making ability to an agent of your choice. It is often used by those that are unable to manage their own affairs, either by medical, physical, or mental incapacitation.
The terms ‘Power of Attorney’ and ‘Attorney-in-Fact’ (agent) are often used interchangeably, however, they do vary slightly. The Power of Attorney is the document used to grant legal decision-making powers. The Attorney-in-Fact (agent) is the person named in the document as the one with the decision-making powers.
Estate Planning
Estate planning involves the preparation of various documents that ensure your wishes are carried out regarding your assets, healthcare, and the care of your dependents after your death or in the event of your incapacity. Here are some essential documents typically involved in estate planning:
Last Will and Testament: A will outlines how you want your assets distributed after your death. It allows you to designate beneficiaries, specify guardians for minor children, and name an executor to oversee the distribution of your estate.
Trust: A trust is a legal arrangement where a trustee holds and manages assets for the benefit of beneficiaries according to the terms specified in the trust document. Trusts can help avoid probate, provide ongoing management of assets, and offer privacy since they are not generally part of the public record.
Power of Attorney: This document grants someone the authority to act on your behalf in legal and financial matters if you become unable to make decisions for yourself. It can be limited to specific actions or broad in scope.
Healthcare Directive (Living Will): A healthcare directive outlines your wishes regarding medical treatment and end-of-life care if you are unable to communicate your preferences. It may include instructions about life-sustaining treatments, organ donation, and comfort care.
Beneficiary Designations: For assets like retirement accounts, life insurance policies, and certain bank accounts, you can designate beneficiaries directly. These designations take precedence over instructions in your will or trust, so they need to be kept up to date.
Benefits of Estate Planning:
Control and Distribution of Assets: Estate planning allows you to specify how your assets should be distributed among your loved ones, charities, or other beneficiaries. Without a plan, state law dictates the distribution, which may not align with your wishes.
Avoiding Probate: Certain estate planning strategies, such as trusts, can help your heirs avoid the lengthy and potentially costly process of probate, where the court oversees the distribution of your estate.
Minimizing Taxes: Proper estate planning can minimize estate taxes and income taxes that may be due upon the transfer of assets to beneficiaries.
Protecting Beneficiaries: You can use trusts to protect assets from creditors, lawsuits, and irresponsible spending by beneficiaries. This is particularly beneficial when dealing with minor children or individuals who may not be financially responsible.
Planning for Incapacity: Estate planning documents like powers of attorney and healthcare directives ensure that your wishes are carried out if you become unable to make decisions due to illness or injury.
Peace of Mind: By having a comprehensive estate plan in place, you and your loved ones can have peace of mind knowing that your affairs are in order and your wishes will be honored.
Overall, estate planning is crucial regardless of the size of your estate. It allows you to maintain control over your legacy and provide for your loved ones according to your wishes.