Remote Online notarization (RON) is a process for signing documents by a video link that will then be notarized by a specially licensed “online notary.” Part of the process became law on January 1, 2020. The part dealing with electronic wills does not take effect until July 1, 2020.
A power of attorney (for financial and contract matters) requires two witnesses and a notary. It can be witnessed and notarized online now. However, a POA signed and witnessed online is not the same as a POA signed and witnessed in person.
After you execute your POA online, a person or institution can demand special proof (the online notary’s “electronic journal or record”) before accepting the POA. In my experience, institutions already scrutinize POAs executed in the traditional manner. I expect them to be even more careful before accepting a POA executed online.
Are you tech savvy? Comfortable with video streaming on your computer? Then an Electronic Will may be right for you. If you’re like most of us however, this process may be much more difficult than you think.
While RON does add some complexity with life planning, it may be an effective tool to sign contracts, deeds, and home closing statements. In fact, it would seem that this is the very purpose it was meant to accomplish.
At this time, Blackburn Law Firm, PLLC – LifePlanLaw.com does not use RON. We anticipate making the Simple Life Plan compatible with RON when the electronic wills provisions become effective on July 1, 2020.