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Introduction
KeyElementsofaPowerofAttorney
1.PartiesInvolved:
*Principal:Thefulllegalname,residentialaddress,andcontactinformationoftheindividualgrantingtheauthority.
*Agent(Attorney-in-Fact):Thefulllegalname,residentialaddress,andcontactinformationoftheindividual(s)receivingtheauthority.Itisprudenttonameasuccessoragentincasetheprimaryagentisunableorunwillingtoact.
2.ScopeofAuthority:
*GeneralPowerofAttorney:ConfersbroadauthoritytoactonthePrincipal'sbehalfinmostfinancialandlegalmatters,suchasmanagingbankaccounts,realestatetransactions,andenteringintocontracts.
*Special(Limited)PowerofAttorney:Grantsspecific,narrowlydefinedauthorityforaparticularpurposeortransaction,suchassellingaspecificpropertyorhandlingafinancialaccountduringaperiodofabsence.
3.EffectiveDate:
4.Termination:
5.ExecutionRequirements:
*ThePrincipalmustsignthedocumentinthepresenceofwitnessesand/oranotarypublic,dependingonthejurisdiction'slegalrequirements.SomejurisdictionsmayalsorequiretheAgenttoacknowledgeacceptanceoftheappointment.
SamplePowerofAttorneyForm
POWEROFATTORNEY
THISPOWEROFATTORNEYismadeon[Day][Month],[Year]
BY:
Principal:`[YourFullLegalName]`
(Hereinafterreferredtoasthe"Principal")
INFAVOROF:
Agent(Attorney-in-Fact):`[Agent'sFullLegalName]`
ContactTelephoneNumber:`[Agent'sTelephoneNumber]`
(Hereinafterreferredtoasthe"Agent")
WHEREAS,thePrincipaldesirestoappointtheAgenttoactonthePrincipal'sbehalfinthemannerandtotheextentsetforthbelow;
NOW,THEREFORE,inconsiderationofthepremisesandothergoodandvaluableconsideration,thereceiptandsufficiencyofwhichareherebyacknowledged,thePrincipaldoesherebyirrevocablyappoint,constitute,andempowertheAgent,toactasthePrincipal'strueandlawfulattorney-in-fact,withfullpowerandauthoritytodoandperformallandsingularthefollowingactsandthings,asfullyandeffectuallyasthePrincipalmightorcoulddoifpersonallypresent,towit:
A.GENERALAUTHORITY:(IfaGeneralPowerofAttorneyisintended)
a)Bankingtransactions,includingdeposits,withdrawals,transfers,andtheopeningorclosingofaccounts.
b)Realestatetransactions,includingthepurchase,sale,lease,mortgage,ormanagementofrealproperty.
c)Investmentactivities,includingthebuying,selling,andmanagingofstocks,bonds,mutualfunds,andothersecurities.
d)Personalpropertytransactions,includingthepurchase,sale,orleaseoftangibleandintangiblepersonalproperty.
e)Enteringintocontracts,agreements,orotherlegalinstruments.
f)Taxmatters,includingthepreparation,signing,andfilingoftaxreturns.
g)[Addormodifyspecificpowersasneeded]
B.SPECIAL(LIMITED)AUTHORITY:(IfaSpecialPowerofAttorneyisintended)
TospecificallyactonbehalfofthePrincipalinthefollowingmatter(s):
[Clearlyandpreciselydescribethespecifictask(s)orauthoritybeinggranted,e.g.,"Toselltherealpropertylocatedat[PropertyAddress]"or"TomanagethePrincipal'sbankaccountnumbered[AccountNumber]at[BankName]duringthePrincipal'sabsencefrom[StartDate]to[EndDate]."]
2.EFFECTIVEDATE:
OR(ChoosethisoptionforaSpringingPowerofAttorney,anddefinethecondition)
3.DURATION:
a)ThePrincipal'sdeath;
b)ThePrincipal'srevocationofthisPowerofAttorneyinwriting;
d)[Otherspecificterminationdateorevent,ifapplicable:"Thedateof[Day][Month],[Year]"].
4.DURABLENATURE:
5.AGENT'SOBLIGATIONS:
Iftheabove-namedAgentisunableorunwillingtoact,thePrincipalherebyappoints`[SuccessorAgent'sFullLegalName]`,residingat`[SuccessorAgent'sAddress]`,asSuccessorAgent,withthesamepowersandauthorityasgrantedtotheprimaryAgent.
INWITNESSWHEREOF,thePrincipalhashereuntosethis/herhandandsealonthedayandyearfirstabovewritten.
SIGNED,SEALED,ANDDELIVEREDbytheabove-namedPrincipal:
_________________________
SignatureofPrincipal:`[Principal'sSignature]`
PrintedName:`[Principal'sFullLegalName]`
DATE:`[Day][Month],[Year]`
I,`[Agent'sFullLegalName]`,herebyacknowledgereceiptofthisPowerofAttorneyandaccepttheappointmentasAttorney-in-Fact.Iagreetoactinaccordancewiththetermsandconditionssetforthherein.
_________________________
SignatureofAgent:`[Agent'sSignature]`
PrintedName:`[Agent'sFullLegalName]`
DATE:`[Day][Month],[Year]`
NOTARIZATION(IFREQUIREDBYLAW):
STATEOF[State]
COUNTYOF[County]
Onthis`[Day]`dayof`[Month]`,`[Year]`,beforeme,theundersignedNotaryPublic,personallyappeared`[Principal'sFullLegalName]`,knowntome(orprovedtomeonthebasisofsatisfactoryevidence)tobethepersonwhosenameissubscribedtothewithininstrumentandacknowledgedtomethathe/sheexecutedthesameinhis/hercapacity,andthatbyhis/hersignatureontheinstrument,theperson,ortheentityuponbehalfofwhichthepersonacted,executedtheinstrument.
_________________________
SignatureofNotaryPublic
PrintedName:`[Notary'sFullName]`
Seal:[NotarySeal]
WITNESSES(IFREQUIREDBYLAW):
Witness1:
_________________________
SignatureofWitness
PrintedName:`[Witness1'sFullName]`
ResidentialAddress:`[Witness1'sAddress]`
DATE:`[Day][Month],[Year]`
Witness2:
_________________________
SignatureofWitness
PrintedName:`[Witness2'sFullName]`
ResidentialAddress:`[Witness2'sAddress]`
DATE:`[Day][Month],[Year]`
ImportantConsiderations
3.Specificityis
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