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Free Power Attorney Form

Free Power Attorney Form is a powerful legal instrument that is used to delegate legal authority to another. The free power attorney form gives legal authority to another person(called an Agent or Attorney-in-Fact) to make property, financial and other legal decisions for the Principal.

STATUTORY DURABLE POWER OF ATTORNEY FORM

NOTICE: THE POWERS GRANTED BY THIS DOCUMENT ARE BROAD AND SWEEPING. IF YOU HAVE ANY QUESTIONS ABOUT THESE POWERS, OBTAIN COMPETENT LEGAL ADVICE. THIS DOCUMENT DOES NOT AUTHORIZE ANYONE TO MAKE MEDICAL AND OTHER HEALTH-CARE DECISIONS FOR YOU. YOU MAY REVOKE THIS POWER OF ATTORNEY IF YOU LATER WISH TO DO SO.

I, ____________________ ____________________ (insert your name and address), appoint

____________________ ____________________ (insert the name and address of the person appointed) as my agent (attorney-in-fact) to act for me in any lawful way with respect to all of the following powers except for a power that I have crossed out below.

TO WITHHOLD A POWER, YOU MUST CROSS OUT EACH POWER WITHHELD.

Real property transactions
Tangible personal property transactions
Stock and bond transactions
Commodity and option transactions
Banking and other financial institution transactions
Business operating transactions
Insurance and annuity transactions
Estate, trust, and other beneficiary transactions
Claims and litigation
Personal and family maintenance
Benefits from social security, Medicare, Medicaid, or other governmental programs or civil or military service
Retirement plan transactions
Tax matters

IF NO POWER LISTED ABOVE IS CROSSED OUT, THIS DOCUMENT SHALL BE CONSTRUED AND INTERPRETED AS A GENERAL POWER OF ATTORNEY AND MY AGENT (ATTORNEY IN FACT) SHALL HAVE THE POWER AND AUTHORITY TO PERFORM OR UNDERTAKE ANY ACTION I COULD PERFORM OR UNDERTAKE IF I WERE PERSONALLY PRESENT.

SPECIAL INSTRUCTIONS:

Special instructions applicable to gifts (initial in front of the following sentence to have it apply):

I grant my agent (attorney in fact) the power to apply my property to make gifts, except that the amount of a gift to an individual may not exceed the amount of annual exclusions allowed from the federal gift tax for the calendar year of the gift.

ON THE FOLLOWING LINES YOU MAY GIVE SPECIAL INSTRUCTIONS LIMITING OR EXTENDING THE POWERS GRANTED TO YOUR AGENT.
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UNLESS YOU DIRECT OTHERWISE ABOVE, THIS FREE POWER ATTORNEY FORM IS EFFECTIVE IMMEDIATELY AND WILL CONTINUE UNTIL IT IS REVOKED.

CHOOSE ONE OF THE FOLLOWING ALTERNATIVES BY CROSSING OUT THE ALTERNATIVE NOT CHOSEN:

(A) This power of attorney is not affected by my subsequent disability or incapacity.

(B) This power of attorney becomes effective upon my disability or incapacity.

YOU SHOULD CHOOSE ALTERNATIVE (A) IF THIS POWER OF ATTORNEY IS TO BECOME EFFECTIVE ON THE DATE IT IS EXECUTED.

IF NEITHER (A) NOR (B) IS CROSSED OUT, IT WILL BE ASSUMED THAT YOU CHOSE ALTERNATIVE (A).

If Alternative (B) is chosen and a definition of my disability or incapacity is not contained in this power of attorney, I shall be considered disabled or incapacitated for purposes of this power of attorney if a physician certifies in writing at a date later than the date this power of attorney is executed that, based on the physician's medical examination of me, I am mentally incapable of managing my financial affairs. I authorize the physician who examines me for this purpose to disclose my physical or mental condition to another person for purposes of this power of attorney. A third party who accepts this power of attorney is fully protected from any action taken under this power of attorney that is based on the determination made by a physician of my disability or incapacity.

I agree that any third party who receives a copy of this document may act under it. Revocation of the durable power of attorney is not effective as to a third party until the third party receives actual notice of the revocation. I agree to indemnify the third party for any claims that arise against the third party because of reliance on this power of attorney.

If any agent named by me dies, becomes legally disabled, resigns, or refuses to act, I name the following (each to act alone and successively, in the order named) as successor(s) to that agent: _______________________________.

Signed this ______ day of __________, 19___.

__________________________________ (your signature)

State of _______________________

County of ______________________

This document was acknowledged before me on __________________________(date) by _______________________________ (name of principal).

___________________________________ (signature of notarial officer)

(Seal, if any, of notary)

___________________________________ (printed name)

My commission expires: _______________

THE ATTORNEY IN FACT OR AGENT, BY ACCEPTING OR ACTING UNDER THE APPOINTMENT, ASSUMES THE FIDUCIARY AND OTHER LEGAL RESPONSIBILITIES OF AN AGENT.

The Agent named in a free power attorney form is your representative, not your "boss." As long as you have the legal capacity to make decisions, you can direct your Agent to do only those things that you want done.

You should choose a trusted family member, a proven friend, or a professional with an outstanding reputation for honesty. Remember, signing a Free Power Attorney Form grants broad authority to an Agent and is very much like signing a blank check.

Certainly, you should never give a Power of Attorney to someone you do not trust fully. And do not allow anyone to force you into signing a Power of Attorney.

There are "Nondurable ," "Durable," and "Springing" Free Power Attorney Forms A "Nondurable" Free Power Attorney Form takes effect immediately. It remains in effect until it is revoked by the Principal, or until the Principal becomes mentally incompetent or dies.

A "Nondurable" Free Power Attorney Form is often used for a specific transaction, like the closing on the sale of residence, or the handling of the Principal's financial affairs while the Principal is traveling outside of the country.

A "Durable" Free Power Attorney Form enables the Agent to act for the Principal even after the Principal is not mentally competent or physically able to make decisions. The "Durable" Free Power Attorney Form may be used immediately, and is effective until it is revoked by the Principal, or until the Principal's death.

A "Springing" Free Power Attorney Form becomes effective at a future time. That is, it "springs up" upon the happenings of a specific event chosen by the Power of Attorney. Often that event is the illness or disability of the Principal.

The "Springing" Free Power Attorney Form will frequently provide that the Principal's physician will determine whether the Principal is competent to handle his or her financial affairs. A "Springing" Power of Attorney remains in effect until the Principal's death, or until revoked by a court.

You may revoke your Power of Attorney at any time.

You should inform your Agent, in writting, that you are revoking the Power of Attorney. Request the return of all copies of your Free Power Attorney Form.

You should notify your bank or other financial institution where your Agent has used the Power of Attorney that it has been revoked.

You should file a copy of the revocation with the County Clerk if your Power of Attorney has been filed in the Clerk's office.

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