Free Durable Power Of Attorney Form Texas
Free Durable Power Of Attorney Form Texas – A durable power of attorney in Texas can be used to designate another person (“agent”) to represent someone’s financial interests on your behalf. Decisions made by the agent would be as binding as if the principal had made the decisions himself. In the “permanent” form, the appointment lasts until the principal’s death unless revoked. Therefore, it is imperative that the chosen agent is a trusted person such as a spouse, family member or close friend.
Definition of “Durable Power of Attorney” “Durable Power of Attorney” means a writing or other record that meets the requirements of Section 751.0021(a) or is described in Section 751.0021(b) (TX Est Code § 751.002(4)) . signature requirements
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This page allows you to download the requested template via the links above or the buttons displayed next to the preview image. Note that each of these tags is a file type (“PDF”, “Word”, and “ODT”). You must select one of these file types, review its contents, and then save it to an accessible folder on your computer.
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The first area of this document will provide important information related to the designation of a power of attorney. Be sure to check out this section. If something is not clear, it would be advisable to consult a qualified professional (ie a lawyer).
After reading this introduction, look for the first blank line on this page. You must provide your full name and address on this line.
Because this statement will express your intent to delegate your authority to use your Agent, you must identify the Agent. Write your full name and address in the second blank space of this paragraph. If you wish to designate more than one agent through this document, you may do so. Be sure to include the name and address of each co-agent in this area. You can do this by enlarging the blank space with the appropriate software or you can cite a clearly marked attachment that is attached to this document at the time it is signed.
There will be several sections that will allow you to fully describe in which areas of your life you expect the agent to represent your interests with primary power. The first of these sections presents a list of general topics. Each of these items (A through O) will be preceded by an appropriate white space. If you want to authorize an agent to represent you in an area defined by one of these elements, you must initialize the white space that precedes it. Depending on your needs, there are two ways to grant these permissions. If you want to give the agent the authority to represent you in some, but not all, of these matters, review this list and initial each item where the agent must be authorized. For example, if you want to authorize an agent to have authority to represent you in “Real Estate Transactions”, “Tangible Property Transactions”, “Business Transactions”, “Claims and Litigation”, and in your “Tax Matters”, then initialize the blank spaces corresponding to the items “(A ), ” “(B), ” “(F), ” “(I), ” and “(M)”. See the example below.
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If you intend to give the Agent primary authority in all of these areas, you may give your approval in one go by writing your initials in the blank space preceding “(O) All Powers…” It should be noted that if initialize this statement, it cannot initialize statements from “(A)” to “(N)”.
The “Special Instructions” section will address additional definitions, including reimbursement and compensation from your agent. Of course, there can be costs when an agent actively represents you (ie airfare, meals, putting up money upfront to hire an entity on your behalf, etc.) and sometimes agents require compensation for their services. This area will include a list of statements that define the relationship between the Agent, his expenses and compensation, and you (the Principal). You should initial a statement that best describes your position on reimbursement and what will happen when the agent is required to prepay your representation. Note that if you do not select any of these statements, the default is “Every agent is entitled to compensation” as long as it is reasonable enough.
If you plan to reimburse the Agent for expenses incurred to represent you (as long as they are reasonable and responsible) and you will be reimbursed accordingly, please initial the first statement.
If the agent will be reimbursed for expenses incurred to represent you, but will not be compensated for acting as your agent, then initial the second statement.
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If you have appointed two or more agents to represent you with principal powers, you will need to indicate how you expect them to act. Only one of the declarations can be initialed in the following area. Note that if neither is initialed, then the first statement (default) will be the statement that best describes your relationship to this document.
If you want them to act independently, so they don’t have to consult or get each other’s approval when acting, then initial a statement that begins “Each of my co-agents…”
If the co-agents can only have greater power if they all act in unison (together), then please initial another statement in this area.
If you prefer that only a majority of the co-agents agree to one of them taking the action that the primary authority has, then initial the third statement in this area.
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The definition that “Special Instructions” will look for is your position over the Agent using your property and assets to make gifts on your behalf. note that this can be used for debt forgiveness. If you want your agent to make such decisions and act on those decisions, please initial a statement beginning with the words “I give my agent the power to enforce my property…”
The blank lines shown below the above statements will give you the opportunity to write directly any instructions, restrictions, stipulations or specifications that you may have regarding the authorizations granted to the Agent. This area is optional and requires such directives only if you believe they are necessary. If you don’t have such directives, you can just write the word “Nothing” (as a precaution).
The section following the blank lines on this page will contain two statements, “(A)” and “(B)”. You must decide which statement should not apply to how the powers granted in this document relate to your potential disability and then strike out that statement. You may replace this section by using the blank lines above to document how these authorizations begin and end and how your disability affects them.
Strike out statement “(A)” if you require that the powers granted herein not be available to the Agent when you sign this document, but rather become effective only after a physician provides you with a written diagnosis that you are incapacitated or that your ability to reason and communicate is seriously impaired.
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Cross out statement “(B)” if the authorizations given here are to be made available to the Agent as soon as they sign this document and remain in effect regardless of their state of physical or mental health.
The last paragraph of this document will provide the opportunity to name successor agents. The language here will designate a person to automatically assume all principal powers granted to an absent or ineligible agent. Once that happens, the successor agent will be able to represent you with the same rights and abilities that they gave to the original agent being replaced. It should be noted that a successor agent does not have access to principal authority until the original agents can no longer be considered active. You can name more than one successor agent in the order in which you want them to assume primary power.
You have finished defining the agents and co-agents to whom you grant primary authority, the types of primary authority to be granted, and any additional instructions to provide a complete picture of how and when your agent(s) should represent him(s). When you are ready, you will need to sign this document for it to be effective. Begin by locating the words “This is signed…” and then enter the day, month, and calendar year that you are signing this document in the three blank spaces below.
Sign your name in the blank space marked “Your Signature” in the presence of a notary public and immediately after reporting the calendar date above. When you are done, give this paperwork to a notary public.
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The notary public will then provide the following area with the location where you signed this document, the calendar date you signed this document, your name, your credentials, and any stamps required for the notarization process.
The agent should receive a copy of this complete appointment. Additional document “Information for Agent”
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