Free Power of Attorney Form, Sample & Template Document


Sample Power of Attorney

POWER OF ATTORNEY


THIS Power of Attorney
is given by me, _______________ (the “Principal”), presently of _______________, _______________, in the State of _______________, on this ___ day of ____________________,20___.

    Previous Power of Attorney

  1. I REVOKE any previous Power of Attorney granted by me.
  2. Attorney-in-fact

  3. I APPOINT __________________, of ___________________________, __________________, _______________, to act as my Attorney-in-fact.
  4. Governing Law

  5. This document will be governed by the laws of the State of _______________. Further, my Attorney-in-fact is directed to act in accordance with the laws of the State of _______________ at any time he or she may be acting on my behalf.
  6. Liability of Attorney-in-fact

  7. My Attorney-in-fact will not be liable to me, my estate, my heirs, successors or assigns for any action taken or not taken under this document, except for willful misconduct or gross negligence.
  8. Effective Date

  9. This Power of Attorney will start immediately and will cease to be in effect upon a finding of my mental incapacity or mental infirmity which may occur after my execution of this Power of Attorney.
  10. Powers of Attorney-in-fact

  11. My Attorney-in-fact has authority to do anything on my behalf that I may lawfully do by an Attorney-in-fact (the “General Power”).
  12. Specific Powers

  13. Without restricting its generality in any way, the following power(s) are specifically included within the foregoing General Power:

    Initial the line at each authority you grant

      X_____Real Estate Transactions

    1. To deal with any interest I may have in real property and sign all documents on my behalf concerning my interest, including, but not limited to, real property I may subsequently acquire or receive. These powers include, but are not limited to, the ability to:

       

      i.

      Purchase, sell, exchange, accept as gift, place as security on loans, convey with or without covenants, rent, collect rent, sue for and receive rents, eject and remove tenants or other persons, to pay or contest taxes or assessments, control any legal claim in favor of or against me, partition or consent to partitioning, mortgage, charge, lease, surrender, manage or otherwise deal with real estate and any interest therein; and

       

      ii.

      Execute and deliver deeds, transfers, mortgages, charges, leases, assignments, surrenders, releases and other instruments required for any such purpose.

    2. X_____Maintain Property and Make Investments

    3. To retain any assets owned by me at the date this Ordinary Power of Attorney becomes effective, and the power to reinvest those assets in similar investments. In addition, my Attorney-in-fact may invest my assets in any new investments, of his or her choosing, regardless of whether or not they are authorized by any applicable legislation.

    4. X_____Banking Transactions

    5. To do any act that I can do through an Attorney-in-fact with a bank or other financial institution. This power includes, but is not limited to, the power to:

       

      i.

      Open, maintain or close bank accounts (including, but not limited to, checking accounts, savings accounts, and certificates of deposit), brokerage accounts, retirement plan accounts, and other similar accounts with financial institutions;

       

      ii.

      Conduct any business with any banking or financial institution with respect to any of my accounts, including, but not limited to, making deposits and withdrawals, negotiating or endorsing any checks or other instruments with respect to any such accounts, obtaining bank statements, passbooks, drafts, money orders, warrants, and certificates or vouchers payable to me by any person, firm, corporation or political entity;

       

      iii.

      Borrow money from any banking or financial institution if deemed necessary by my Attorney-in-fact, and to manage all aspects of the loan process, including the placement of security and the negotiation of terms;

       

      iv.

      Perform any act necessary to deposit, negotiate, sell or transfer any note, security, or draft of the United States of America, including U.S. Treasury Securities;

       

      v.

      Have access to any safe deposit box that I might own, including its contents; and

       

      vi.

      Create and deliver any financial statements necessary to or from any bank or financial institution.

    6. X_____Business Operating Transactions

    7. To take any action my Attorney-in-fact deems necessary with any business that I may own or have an interest in by doing any act which can be done through an Attorney-in-fact. This power includes, but is not limited to, the power to execute, seal and deliver any instrument; participate in any legal business of any kind; execute partnership agreements and amendments; to incorporate, reorganize, consolidate, merge, sell, or dissolve any business; to elect or employ officers, directors and agents; and to exercise voting rights with respect to any stock I may own, either in person or by proxy.

    8. X_____Insurance Transactions

    9. To do any act that I can do through an Attorney-in-fact with any insurance policy. This power includes, but is not limited to, the power to pay premiums, start, modify or terminate policies, manage all cash payouts, borrow from insurers and third parties using insurance policies as collateral, and to change the beneficiaries on any insurance policies on my life. Unless my Attorney-in-fact was already a beneficiary of any policy before the signing of this document, my Attorney-in-fact cannot name himself or herself as a beneficiary of such policy.

    10. X_____Claims and Litigation Matters

    11. To institute, maintain, defend, compromise, arbitrate or otherwise dispose of, any and all actions, suits, attachments or other legal proceedings for or against me. This power includes, but is not limited to, the power to: appear on my behalf, and the power to settle any claim against me in whichever forum or manner my Attorney-in-fact deems prudent, and to receive or pay any resulting settlement.

    12. X_____Tax Matters

    13. To act for me in all matters that affect my local, state and federal taxes and to prepare, sign, and file documents with any governmental body or agency, including, but not limited to, authority to:

       

      i.

      Prepare, sign and file income and other tax returns with federal, state, local and other governmental bodies, and to receive any refund checks; and

       

      ii.

      Obtain information or documents from any government or its agencies, and represent me in all tax matters, including the authority to negotiate, compromise, or settle any matter with such government or agency.

    14. X_____Government Benefits

    15. To act on my behalf in all matters that affect my right to allowances, compensation and reimbursements properly payable to me by the Government of the United States or any agency or department thereof. This power includes, but is not limited to, the power to prepare, file, claim, defend or settle any claim on my behalf and to receive and manage, as my Attorney-in-fact sees fit, any proceeds of any claim.

    16. X_____Retirement Benefit Transactions

    17. To act for me and represent my interests in all matters affecting any retirement savings or pension plans I may have. This power includes, but is not limited to, the power to continue contributions, change contribution amounts, change investment strategies and options, move assets to other plans, receive and manage payouts, and add or change existing beneficiaries. My Attorney-in-fact cannot add himself or herself as a beneficiary unless he or she is already a designated beneficiary as of the signing of this document.

    18. X_____Family Care

    19. To make whatever expenditures are required for the maintenance, education, benefit, medical care and general advancement of me, my spouse and dependent children, and other persons that I have chosen or which I am legally required to support, any of which may include my Attorney-in-fact. This power includes, but is not limited to, the power to pay for housing, clothing, food, travel and other living costs.

    20. X_____Chattel and Goods Transactions

    21. To purchase, sell or otherwise deal with any type of personal property I may currently or in the future have an interest in. This includes, but is not limited to, the power to purchase, sell, exchange, accept as gift, place as security on loans, rent, lease, to pay or contest taxes or assessments, mortgage or pledge.

    22. X_____Estate Transactions

    23. To do any act that I can do through an Attorney-in-fact with regard to all matters that affect any trust, probate estate, conservatorship, or other fund from which I may receive payment as a beneficiary. This power includes the power to disclaim any interest which might otherwise be transferred or distributed to me from any other person, estate, trust, or other entity, as may be appropriate. However, my Attorney-in-fact cannot disclaim assets to which I would be entitled, if the result is that the disclaimed assets pass directly or indirectly to my Attorney-in-fact or my Attorney-in-fact’s estate.

    24. X_____Living Trust Transactions

    25. To transfer any of my assets to the trustee of any revocable trust created by me, if such trust is in existence at the time of such transfer. This property can include real property, stocks, bonds, accounts, insurance policies or other property.

    26. X_____Gift Transactions

    27. To make gifts to my spouse, children, grandchildren, great grandchildren, and other family members on special occasions, including birthdays and seasonal holidays, including cash gifts, and to such other persons with whom I have an established pattern of giving (or if it is appropriate to make such gifts for estate planning and/or tax purposes), in such amounts as my Attorney-in-fact may decide in his or her absolute discretion, having regard to all of the circumstances, including the gifts I made while I was capable of managing my own estate, the size of my estate and my income requirements.

    28. X_____Charity Transactions

    29. To continue to make gifts to charitable organizations with whom I have an established pattern of giving (or if it is appropriate to make such gifts for estate planning and/or tax purposes), in such amounts as my Attorney-in-fact may decide in his or her absolute discretion, having regard to all of the circumstances, including the gifts I made while I was capable of managing my own estate, the size of my estate and my income requirements.

    30. X_____Employ Required Professionals

    31. To appoint and employ any agents, servants, companions, or other persons, including nurses and other health care professionals for my care and the care of my spouse and dependent children, and accountants, attorneys, clerks, workers and others for the management, preservation and protection of my property and estate, at such compensation and for such length of time as my Attorney-in-fact considers advisable.

      X_____Manage Real Estate

    32. To manage the property owned by me, or in which I have an interest, located at _____________________________________________________, and municipally known as _____________________________________________________. This power includes, but is not limited to, the power to receive rents, make repairs, pay expenses including the insuring of the property and generally to deal with my property as effectually as I myself could do; to take all lawful proceedings by way of action or otherwise, for recovery of rent in arrears, or for eviction of tenants; and to commence, carry on and defend all actions, suits and other proceedings touching my property or any part of it.

    33. X_____Manage Specific Financial Account

    34. To control my accounts with ____________________ Bank, located at _________________________________________, Account Number(s)__________________________________________. This power includes the authority to conduct any business with respect to any of my listed accounts, including, but not limited to, making deposits and withdrawals, negotiating or endorsing any cheques or other instruments with respect to any such accounts, obtaining bank statements, passbooks, drafts, money orders, warrants, and certificates or vouchers payable to me by any person, firm, corporation or political entity, and to perform any act necessary to deposit, negotiate, sell or transfer any note, security or draft.

  14. Attorney-in-fact Compensation

  15. My Attorney-in-fact will receive no compensation except for the reimbursement of all out of pocket expenses associated with the carrying out of my wishes.
  16. Co-owning of Assets and Mixing of Funds

  17. My Attorney-in-fact may not mix any funds owned by him or her in with my funds and all assets should remain separately owned if at all possible.
  18. Personal Gain from Managing My Affairs

  19. My Attorney-in-fact is not allowed to personally gain from any transaction he or she may complete on my behalf.
  20. Delegation of Authority

  21. My Attorney-in-fact may not delegate any authority granted under this document.
  22. Attorney-in-fact Restrictions

  23. This Power of Attorney is not subject to any conditions or restrictions other than those noted above.
  24. Notice to Third Parties

  25. Any third party who receives a valid copy of this Power of Attorney can rely on and act under it. A third party who relies on the reasonable representations of my Attorney-in-fact as to a matter relating to a power granted by this Power of Attorney will not incur any liability to the Principal or to the Principal’s heirs, assigns, or estate as a result of permitting the Attorney-in-fact to exercise the authority granted by this Power of Attorney up to the point of revocation of this Power of Attorney. Revocation of this Power of Attorney will not be effective as to a third party until the third party receives notice and has actual knowledge of the revocation.
  26. Severability

  27. If any part of any provision of this document is ruled invalid or unenforceable under applicable law, such part will be ineffective to the extent of such invalidity only, without in any way affecting the remaining parts of such provisions or the remaining provisions of this document.
  28. Acknowledgment

  29. I, _______________, being the Principal named in this Power of Attorney hereby acknowledge:
    1. I have read and understand the nature and effect of this Power of Attorney;
    2. I am of legal age in the State of _______________ to grant a Power of Attorney; and
    3. I am voluntarily giving this Power of Attorney.

IN WITNESS WHEREOF
I hereunto set my hand and seal at the City of ________________ in the State of _______________, this ___ day of ____________________,20___.

SIGNED, SEALED, AND DELIVERED

     

in the presence of:

     
       

Witness: ______________________ (Sign)

     

Witness Name: ______________________

     

Address: ___________________________

   

__________________________________

___________________________________

   

_______________ (Principal)

       

Witness: ______________________ (Sign)

     

Witness Name: ______________________

     

Address: ___________________________

     

___________________________________

   


WITNESS CERTIFICATE

I, _________________________, currently residing at __________________________, in the City of __________________, in the State of ____________________, hereby acknowledge that:

  1. I witnessed the signing of the Power of Attorney of _______________ dated this ___ day of ____________________,20___.
  2. I am an adult with capacity to witness the signing of the Power of Attorney and I am the subscribing witness thereto.
  3. In my opinion, _______________ had the capacity to understand the nature and effect of the Power of Attorney at the time the Power of Attorney was signed and the Principal signed it freely and voluntarily without any compulsion or influence from any person.
  4. I am not the Attorney-in-fact named in the Power of Attorney nor am I the Attorney-in-fact’s spouse or other family member.

_________________________

_________________________

(Signature of Witness)

(Date)


WITNESS CERTIFICATE

I, _________________________, currently residing at __________________________, in the City of __________________, in the State of ____________________, hereby acknowledge that:

  1. I witnessed the signing of the Power of Attorney of _______________ dated this ___ day of ____________________,20___.
  2. I am an adult with capacity to witness the signing of the Power of Attorney and I am the subscribing witness thereto.
  3. In my opinion, _______________ had the capacity to understand the nature and effect of the Power of Attorney at the time the Power of Attorney was signed and the Principal signed it freely and voluntarily without any compulsion or influence from any person.
  4. I am not the Attorney-in-fact named in the Power of Attorney nor am I the Attorney-in-fact’s spouse or other family member.

_________________________

_________________________

(Signature of Witness)

(Date)

The first thing that springs to mind when someone is given powers of attorney is ‘‘what that is,’’ or ‘‘why me,’’ and ‘‘what will I do.’’

Even though this document holds immense power over different matters, most people have no clue what it’s all about. However, reading this page will enlighten you on all matters relating to powers of attorney, ensuring you know the best Power of Attorney Form that meets your needs.

What is a Power of Attorney (POA)?

It’s a legal instrument that allows you to name someone you trust as the person to make big decisions, or to take action in your place, when you are unable to, either because of mental or physical incapacitation, or if you’re out of town, and you cannot act on some matters when away.

You have to sign and formalize this document when you are of sound mind and in good health, or when in control of your faculties. But in most cases, the person you select as your proxy takes action, or decides in your place, when you cannot. A few circumstances exist that make the document executable as soon as you sign it, your mental and physical status notwithstanding.

As mentioned above, a POA is a legal instrument. This means you need to familiarize with some of the terms used. Two of the most important being the principal and the agent/surrogate/attorney-in-fact/proxy or executor.

The person appointing and handing over power to the other is the principal, while the appointed person or organization is the agent or attorney-in-fact. Note that the latter is not in any way related to professional lawyers. You need a Power of Attorney Form to nominate the agent.

What makes a POA executable?

  • The legal requirements for the execution of a POA may have small differences depending on the state, but the document is legally executable only if:

    • The document is in writing and signed by the principal, with at least two adult witnesses present. The witnesses should not be related to the principal or each other. An agent isn’t recognized as a witness. In some states, a POA should be notarized.

    • The other condition is that, at the time of signing the document, you must be of sound mind/mentally competent and signing the document should not be forced on you by others.

    • Also, the document must explicitly show the principal’s intention to delegate the powers.

    • It should also highlight if the powers are durable or not.

    • Parties should be identified.

    • It should be in the correct format.

What’s the importance/purpose of a POA?

The main purpose of a POA is to protect your wishes when you’re unable to express your wishes. The powers granted using a POA can be broad or specific. This document also protects your estate and family (if any). It also prevents family disputes.

  • What can you use the POA for?

    • Making tough medical and healthcare decisions, including consenting to or refusing to give consent, or withdrawing medical procedures, care services, and treatment

    • Buying life insurance and settling claims

    • Managing stock transactions

    • Making financial decisions

    • You can also use it to grant a non-parent authority over your child

    • Protection of personal assets and estate

While no standard power of attorney exists for all states, the powers granted by the document cannot, under the law be delegated.

The powers of the document do not include the power to create, amend or even revoke a living will, the power to vote (this power goes to the guardian), or the power to contract marriage.

  • Types of POA

    • Springing POA

The powers of attorney could be executable immediately after the document is signed and/or, as is a common arrangement for most people, only enforceable on a future date and time, or when a special event occurs such as incapacitation or absence from the country. As per the latter description, the appointed agent cannot act unless an event triggers the need for their action – their powers spring from different events.

  • The springing powers of attorney are either durable or non-durable.

    • Ordinary POA

  • A legal instrument appointing another as the decision maker for as long as the principal can make their own decisions and act without help. The powers of an ordinary POA terminate immediately when the principal is mentally incapacitated or dead.

    • Non-durable POA

  • This is only used for a limited period or a specific transaction. This means that the agent only gets the power to transact in your place and the powers end when the task is completed. The powers of the non-durable POA also cease to exist in the event of the principal’s incapacitation.

    • Durable Power of Attorney Forms

  • This is the legal instrument that’s enforceable even after the principal loses the ability to make decisions or are away. However, it’s no longer executable upon the principal’s death or if the principal revokes its power. A durable POA can be a special, general, or a healthcare POA.

    • Limited/Special POA

  • The powers of this document are used on a limited basis and for a one-time banking or financial transaction. The special powers could be granted for the sale of property or for the agent to buy or sell stocks on behalf of the principal. The powers granted cease once the task assigned is executed.

    • General Power of Attorney

  • This instrument gives the agent (person or organization) a broad range of powers. These powers include taking care of financial matters, settling claims, enforcing healthcare and end-of-life directives, making gifts, operating your business’ interests, or employing a professional. This is the most effective tool if you want someone you trust to take care of your affairs when you travel or when you are mentally and physically unable to act.

    • Medical/Healthcare POA

  • This grants an agent the authority to make healthcare decisions when you’re unconscious, mentally or physically unable to make decisions. It’s not similar to a living will, but several states allow you to name your preference on matters relating to life-support.

Revocation of Powers of Attorney

The powers granted to the agent are revocable if a revocation notice is issued to the agent, upon divorce when the agent is a former spouse, or if the principal expresses their intention to revoke the powers in writing or verbally with witnesses present.

Here’s the best part: though states have different conditions and types of powers of attorney, you can access our free Power of Attorney Forms from any state. Get yours today.

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