Power of Attorney

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Who is granting this Power of Attorney?

Frequently Asked Questions

What is a power of attorney?A power of attorney is a document in which one person (the principal) appoints another person (the attorney-in-fact) to act for him or her. There are many reasons why you might want to appoint someone else to look after your financial affairs.

For example, if you are going to be out of the country for a lengthy period of time, you might want someone to do your banking while you are gone. If you are approaching old age, you may want to give a power of attorney to a person you trust so that he or she can manage your property for you.
Who is the Principal?The person who gives the authority (power to act) is referred to as a donor, grantor, or principal.
Your Power of AttorneyUpdate Preview

POWER OF ATTORNEY

THIS Power of Attorney is given by me, ____________________ (the "Principal"), presently of ____________________, ____________________, in the State of California, on this 24th day of July, 2014.

  1. Previous Power of Attorney
  2. I REVOKE any previous power of attorney granted by me.
  3. Attorney-in-fact
  4. I APPOINT __________________, of ____________________, ____________________, California, to act as my Attorney-in-fact.
  5. Governing Law
  6. This document will be governed by the laws of the State of California. Further, my Attorney-in-fact is directed to act in accordance with the laws of the State of California at any time he or she may be acting on my behalf.
  7. Liability of Attorney-in-fact
  8. My Attorney-in-fact will not be liable to me, my estate, my heirs, successors or assigns for any action taken or not taken under this document, except for willful misconduct or gross negligence.
  9. Powers of Attorney-in-fact
  10. My Attorney-in-fact will have the following power(s):

    Initials

    1. X_____ Specific Power

      _________________________________________________________________

      _________________________________________________________________.

  11. Attorney-in-fact Compensation
  12. My Attorney-in-fact will receive compensation as per the guidelines governing the compensation for agents or trustees or other such legislated rate in the State of California in addition to reimbursement of all out of pocket expenses associated with the carrying out my wishes. If no guidelines or usual practices exist for the compensation of an attorney-in-fact then my Attorney-in-fact will be entitled to reimbursement for all out of pocket expenses associated with the carrying out of my wishes and may pay himself or herself a reasonable amount based on the size of my estate.
  13. Co-owning of Assets and Mixing of Funds
  14. My Attorney-in-fact may not mix any funds owned by him or her in with my funds and all assets should remain separately owned if at all possible.
  15. Personal Gain from Managing My Affairs
  16. My Attorney-in-fact is not allowed to personally gain from any transaction he or she may complete on my behalf.
  17. Delegation of Authority
  18. My Attorney-in-fact may not delegate any authority granted under this document.
  19. Effective Date
  20. This Power of Attorney will start immediately upon signing. Under no circumstances will the powers granted in this Power of Attorney continue after my mental incapacity or death.
  21. Attorney-in-fact Restrictions
  22. This Power of Attorney is not subject to any conditions or restrictions other than those noted above.
  23. Notice to Third Parties
  24. Any third party who receives a valid copy of this Power of Attorney can rely on and act under it. A third party who relies on the reasonable representations of my Attorney-in-fact as to a matter relating to a power granted by this Power of Attorney will not incur any liability to the Principal or to the Principal's heirs, assigns, or estate as a result of permitting the Attorney-in-fact to exercise the authority granted by this Power of Attorney up to the point of revocation of this Power of Attorney. Revocation of this Power of Attorney will not be effective as to a third party until the third party receives notice and has actual knowledge of the revocation.
  25. Severability
  26. If any part of any provision of this document is ruled invalid or unenforceable under applicable law, such part will be ineffective to the extent of such invalidity only, without in any way affecting the remaining parts of such provisions or the remaining provisions of this document.
  27. Acknowledgment
  28. I, ____________________, being the Principal named in this Power of Attorney hereby acknowledge:
    1. I have read and understand the nature and effect of this Power of Attorney;
    2. I am of legal age in the State of California to grant a Power of Attorney; and
    3. I am voluntarily giving this Power of Attorney.

IN WITNESS WHEREOF I hereunto set my hand and seal at the City of ____________________ in the State of California, this 24th day of July, 2014.


     
   

_____________________________

   

____________________ ((Principal))


NOTARY ACKNOWLEDGMENT


STATE OF CALIFORNIA

COUNTY OF ____________________

On this 24th day of July, 2014, before me, ____________________ personally appeared: ____________________, who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that he/she executed the same in his/her authorized capacity, and that by his/her signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument.

I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.

WITNESS my hand and official seal.


___________________________
Notary Public

___________________________
(print name)


NOTICE TO PERSON ACCEPTING THE APPOINTMENT AS ATTORNEY-IN-FACT

By acting or agreeing to act as the agent (attorney-in-fact) under this power of attorney you assume the fiduciary and other legal responsibilities of an agent. These responsibilities include:

  1. The legal duty to act solely in the interest of the principal and to avoid conflicts of interest.
  2. The legal duty to keep the principal's property separate and distinct from any other property owned or controlled by you, unless the power of attorney specifically gives you the authority to commingle the principal's property with your own.

You may not transfer the principal's property to yourself without full and adequate consideration or accept a gift of the principal's property unless this power of attorney specifically authorizes you to transfer property to yourself or accept a gift of the principal's property. If you transfer the principal's property to yourself without specific authorization in the power of attorney, you may be prosecuted for fraud and/or embezzlement. If the principal is 65 years of age or older at the time that the property is transferred to you without authority, you may also be prosecuted for elder abuse under Penal Code Section 368. In addition to criminal prosecution, you may also be sued in civil court.

I have read the foregoing notice and I understand the legal and fiduciary duties that I assume by acting or agreeing to act as the agent (attorney-in-fact) under the terms of this power of attorney.




___________________________

   

(Signature of Agent)

   
     

___________________________

   

(Print Name of Agent)

   
     

________________________

   

(Date)

   

INSTRUCTIONS FOR EXECUTING YOUR POWER OF ATTORNEY

Before signing your Power of Attorney, ensure you have read it and understand your document.

To be valid, you must sign the document with your usual cheque signing signature. You should also initial each page of the document. The signing and the initialing of the pages must occur in the presence of your notary or witness(es). For every power that you have given to your Attorney-in-fact you must write your initials in the space provided. If this is not done it may affect the validity of your document.

After you have signed and initialed your document in front of your notary or witness(es), your notary or witness(es) must sign on the applicable page of the Power of Attorney and should initial each page. This must occur in the presence of you.

Most jurisdictions require that a Power of Attorney be signed before a Notary Public if it is durable or grants power over land or property. Some jurisdictions also require that witnesses be present. Even if they are not required for your state, it is often recommended to have witnesses to make the document more acceptable to those that will have to deal with it. Those jurisdictions that do not require that the Power of Attorney be signed in front of a notary usually require that two witnesses are used. Even if a notary is not required it is still often recommended.

Remember that your witness(es) cannot be your spouse, partner, child, your Attorney-in-fact or alternate Attorney-in-fact or the spouse of your Attorney-in-fact or alternate attorney-in-fact. Some jurisdictions disallow witnesses that are mentioned in your Last Will, either as beneficiary or executor/executrix. You should generally avoid having witnesses that have any financial relationship with you. The witness(es) must be of legal age in your jurisdiction, they must have capacity and be mentally capable of managing their property and making their own decisions.

If your Power of Attorney will be used to transfer real property (land) your Attorney-in-fact will likely need to have the document recorded in order for the Power of Attorney to be recognized. This takes place at the land registry office in the jurisdiction where the real property (land) is located.

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