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Who can act as my power of attorney? What can my power of attorney do? What powers should I give to my power of attorney? A power of attorney can be categorised as either general or enduring. In this article, we will be talking about the general power of attorney. In a general power of attorney, the agent will have the authority to make any decisions for the principal regarding business, property, financial, and health matters. However, they are not allowed to make personal decisions.
Need someone to receive or collect your money, deposit or sign a check, buy or invest in property, make legal decisions regarding your health care, handle tax payments, and other matters concerning your life? All you need is a general power of attorney authorizing a trusted person to act on your behalf. Through this template, you can surely create one that is professional and comprehensible. It is available in MS Word and Apple Pages.
Although different states have different legal requirements for general power of attorney forms, this form is the one that is commonly used by most states. This contains court forms and instructions to file a general power of attorney, checklists, and even frequently asked questions regarding the power of attorney and other related forms. You may refer to this document when you are starting to create your own general power of attorney agreement.
Do you want assistance in managing your financial affairs whenever you are away or working overseas? A general non-enduring power of attorney is best for you. Through this legal document, you can appoint someone to make financial decisions for you, deal with legal issues, deal with property affairs, or run your business while you are away. Note that this type of power of attorney does not operate when the principal no longer has decision-making capacity.
If you want to create a power of attorney that will continue to take effect even after the principal becomes mentally incompetent—for example, being mentally disabled or incapacitated—a durable general power of attorney perfectly suits your need. This provides your trusted agent an authority to act in a broad range of matters, including operating your business, handling taxes and lawsuits, applying for government benefits, managing your investments, and buying or selling personal property or real estate.
This is a comprehensive document providing the agreement between the principal and the attorney-in-fact relating to matters concerning authorizing the agent to act on behalf of the principal in performing transactions such as banking and other financial institution transactions; estate, trust, and other beneficiary transactions; benefits from Social Security, Medicare, or other government programs or services; and decisions relating to medical treatment, surgical treatment, nursing care, medication, hospitalization, among others.
In order to delegate broad authority over your personal financial affairs, a general power of attorney for finances and property matters is what you perfectly need. This will still continue to take effect even if the principal becomes incompetent or incapacitated. Through this document, you will know the scope of the role of your agent, which includes conducting banking transactions, buying and selling real estate, managing the property, making gifts or donations to charity on your behalf, pay your bills, attending to tax and retirement matters, making legal claims, and even conducting litigations.
This document serves as a contract binding the principal and the agent whereby the principal authorizes the agent to act on his or her behalf. In this document, you can include the basic information of both parties, directions, limitations, and conditions, commencement of the power of attorney, statement of understanding, and signature of both parties attesting the validity of the document.
In this document, you can find the provisions and agreement as well as requirements for attestation of a general power of attorney. So, if you want a simple yet professional and elegant power of attorney form, this document is what you are looking for. You may refer to this document to get a general idea on how to create a general power of attorney that is concise and direct.
This general power of attorney is easy to understand as it laid down the terms of the agreement between the principal and the agent. The principal allows the agent to perform a broad range of matters, such as to file cases in any competent courts and to complete the proceedings; sign all documents, papers, agreements, affidavit forms, cash receipts, among others on his or her behalf; make payments of taxes, rates, and assessments; and appoint advocates, prosecutors, or any other competent authority for all purpose.
Need someone to manage your finances and properties on your behalf? This power of attorney form allows you to plan for your future decision-making regarding your finances and properties even if you are unable to make your own decisions. You can designate any person whom you trust and you can grant him or her the authority regarding your real property, tangible property, digital property, stocks and bonds, insurance and annuities, claims and litigations, retirement plans, and personal taxes.
Now that you already know the basics about a general power of attorney, if you are the principal, you can now decide what powers you would vest to your agent, and if you are the agent, you now have a general knowledge on the scope of the power of attorney. Lastly, do not forget to refer to the examples and templates above whenever you need to create a general power of attorney.