There are times when we need the help of someone to handle our affairs especially when we are not able to do so. In order to put this in writing, all you need is a power of attorney. The agent has the power to make decisions on your behalf up to a certain extent depending on the type of power of attorney that you give out to your agent. If you want to be specific with the powers that you grant to your agent, the type of power of attorney that you must sign and issue is the special power of attorney. This is also used when the principal cannot handle affairs due to some health reasons or other commitments. Below are some useful examples that you can refer to.
As the principal or the one creating the special power of attorney, you must clearly specify or make a list of the authority that you want to grant to your agent, also known as attorney-in-fact. Examples of certain authorities that could be granted to the agent are as follows: to buy or sell a home, withdraw or deposit money from or to a bank account, and run a business. The principal must be very clear regarding the power that he or she wishes to grant the agent to avoid misunderstanding and confusion, similar to this one-page special power of attorney that provides not only the powers granted to the agent but also the assertions and other stipulations.
Presented in this special power of attorney for individuals and businesses is a comprehensive detail and information regarding the special power of attorney. This includes the information of the taxpayer, such as the name, address, and social security number or federal or state ID number; information of the agent, such as the name, address, and telephone number; list of the acts that the principal wants to grant to the agent; effectivity date; signature of the individual or entity taxpayer; attestation of the agent; instructions for completing this special power of attorney document; and line-by-line instructions for the document.
This is an example of a special power of attorney for public employee retirement system. The information contained in this legal document is categorized into two main headings, namely applicant information and attorney-in-fact information. Under the applicant information section, included are the following: name of the applicant, social security number or PERS ID, complete mailing address, date of birth, phone number, and email. On the other hand, the information of the attorney-in-fact includes the name(s) of the attorney(s)-in-fact, complete mailing address, and signature. These details are important so that both parties will be secured in their agreement.
In order to avoid confusion and conflicts regarding your special power of attorney, it must be stated in a brief and direct manner. In this way, stipulations would become clear and easy to understand. Just like in this brief special power of attorney example, the information presented in the document include the agreement in general, the list of the powers granted by the principal to the agent, the date of the issuance of the document, signatures of the attorney-in-fact and the principal, date of issue, expiry date, signatures of the witnesses, and acknowledgment by the notary public.
When people hear the words power of attorney, many get overwhelmed thinking of the stipulations that it must contain. However, a special power of attorney must not be overwhelming and complicated as you think. The principal can create a simple one in order for both parties to easily comprehend the document. In this example, the principal must specify the affairs that you want for your agent to handle. Note that agent need not be a lawyer; instead, he can be anyone as long as you can put your trust in him or her and he or she is of legal age. There are no guidelines and limitation as to who you can appoint, but just make sure that your agent is trustworthy.
In this detailed special power of attorney, clearly stipulated are the powers granted to the agent which is to sell, offer for sale, and come to an agreement as to the purchase price and other important details, sign in behalf of the principal, and receive the payment from the sale of the property of the principal. The description of the property must also be briefly and clearly included in the document.
Just like a contract, although you can opt for an oral or written power of attorney, it is best if you put your agreement in writing because many institutions—banks, hospitals, and Internal Revenue Service—require that a power of attorney must be in written form so they will honor it. Hence, as early as today, it is important that you create your own special power of attorney so you would be prepared in case you need to designate someone to handle your financial, business, and health matters and other affairs. You may refer to the file above for a simple and understandable example.
If you want to create a special power of attorney that is simple yet straight to the point, then this general special power of attorney is perfect for you. If you are the principal, you can write on the blank space your name and contact details, your agent’s name and contact details, the task that you want to delegate to your attorney-in-fact, the date and location of the issuance, and your signature as well as your agent’s.
For those who wanted to follow a certain format for a special power of attorney, this form is what you basically need. All you need to do is write your details as well as that of your attorney-in-law, the specific affairs that you want your agent to handle, such as selling personal or real property, managing real estate, and collecting debts. These are just some of the common matters that you can specify in the document.
A special power of attorney need not be lengthy; instead, it must be concise and direct to the point. However, you must make sure that the details are complete and all the stipulations that you want to include are present in the contract. The necessary details are as follows: the principal or grantor details, the agent details, the reason(s) for giving powers, the performing act details, the date and place of issuance, the signature of the grantor and agent, and the signature of two witnesses. You may refer to this example if you want to create a simple yet concise and comprehensible special power of attorney.