Springing Power of Attorney

SPRINGING POWER OF ATTORNEY

I, [Principal's Full Name], residing at [Principal's Address], hereby establish this Springing Power of Attorney on this [Date of Creation], in [Principal's Company Address], to manage and make decisions regarding my affairs, properties, and assets in the event of my incapacity.

I. Designation of Agent

I designate [Agent's Full Name], residing at [Agent's Address], as my attorney-in-fact (Agent) to act on my behalf under this Power of Attorney.

II. Springing Event

This Power of Attorney shall only become effective upon the occurrence of the following specific event: "the determination of my incapacity by one or more licensed physicians." This clause ensures that the Power of Attorney only comes into effect when the principal is deemed incapacitated by medical professionals.

III. Scope of Authority

My Agent shall have the authority to act on my behalf in all matters, including but not limited to:

Managing my financial affairs, including banking transactions, investments, and real estate.
Making healthcare decisions, including consenting to or refusing medical treatment.
Signing legal documents and contracts.
Accessing and managing my digital assets.
Any other lawful act or decision was necessary to manage my affairs.

IV. Effective Date and Duration

The Power of Attorney that has been granted will continue to stay in effect until such time that the specified triggering event takes place, or unless I choose to revoke it through a formal written declaration.

V. Revocation Clause

If mentally sound and aware, the Principal can revoke this Power of Attorney at any time before activation through written notice to the Agent.

The Principal reserves the right to revoke this Power of Attorney at any time before activation, provided they are of sound mind and fully cognizant of the implications of revocation.
Revocation must be communicated in writing and delivered to the designated Agent by the Principal.
This clause ensures that the Principal maintains full control over the Power of Attorney and can withdraw it if circumstances change or if they no longer wish to grant authority to the Agent.

VI. Specific Powers

The Agent is authorized to exercise all powers necessary to manage and make decisions regarding the Principal's financial, healthcare, and legal affairs, including, but not limited to:

Accessing bank accounts and managing finances
Making healthcare decisions and consenting to medical treatment
Handling legal matters and signing documents on behalf of the Principal

VII. Governing Law

This Power of Attorney shall be governed by and construed under the laws of [Specify Jurisdiction].

VIII. Miscellaneous Provisions

Severability: If any provision of this Power of Attorney is found to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
Interpretation: Any ambiguities or disputes arising from the interpretation of this Power of Attorney shall be resolved under the laws of [Specify Jurisdiction].
Entire Agreement: This Power of Attorney constitutes the entire agreement between the parties concerning the subject matter herein and supersedes all prior and contemporaneous agreements and understandings, whether written or oral.

Revocation: I reserve the right to revoke this Power of Attorney at any time, provided I am of sound mind and capable of making such decisions, by executing a written revocation and delivering it to my Agent.

Indemnification: My Agent shall be indemnified and held harmless for any actions taken in good faith under this Power of Attorney.

In witness whereof, I have executed this Springing Power of Attorney on the date first above written.

ACKNOWLEDGEMENT OF THE PRINCIPAL

This Power of Attorney shall be effective immediately upon my signature and shall remain valid until my explicit and written revocation.

[YOUR NAME]

[DATE]

ACCEPTANCE OF THE AGENT

I, [AGENT NAME], acknowledge that I have read and understood the terms and responsibilities outlined in this Power of Attorney document. I accept the appointment as Agent and agree to act under the instructions and limitations provided herein.

[AGENT'S NAME]

[DATE]

WITNESS ACKNOWLEDGEMENT

We, the undersigned witnesses, hereby acknowledge that the above-named Principal has signed this Power of Attorney in our presence on the date stated above.

Witness 1:

[Witness 1 full name]

[Date]

Witness 2:

[Witness 2 full name]

[Date]

NOTARY ACKNOWLEDGEMENT

On this day of in the year , before me, a Notary Public in and for said County and State, personally appeared [Your Name], known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged that they executed the same for the purposes therein contained.

Witness my hand and official seal.

[Notary Public's Name]

My Commission Expires: