Oral Power of Attorney
I. Introduction
This Oral Power of Attorney Agreement ("Agreement") is made on [Date], between [Your Name], residing at [Your Company Address], referred to as the "Grantor," and [Name of Agent], residing at [Address of Agent], referred to as the "Agent."
II. Grant of Authority
The Grantor hereby grants oral power of attorney to the Agent to act on their behalf in all legal and financial matters, effective immediately upon acceptance by the Agent. This authority includes, but is not limited to, the following:
III. Financial Matters
a. Managing bank accounts: The Agent is authorized to make deposits, withdrawals, and transfers from the Grantor's bank accounts.
b. Real estate transactions: The Agent may buy, sell, or manage real estate properties owned by the Grantor.
c. Business transactions: The Agent is empowered to conduct business transactions and sign contracts on behalf of the Grantor.
d. Investments: The Agent may make decisions regarding investments, stocks, bonds, and other financial instruments.
e. Tax matters: The Agent is authorized to handle tax matters, including filing tax returns and representing the Grantor before tax authorities.
f. Safe deposit boxes: The Agent has access to and may manage any safe deposit boxes owned by the Grantor.
IV. Healthcare Matters
In the event of the Grantor's incapacity or inability to communicate, the Agent is authorized to make healthcare decisions on their behalf, including decisions regarding medical treatment, surgery, and end-of-life care.
V. Duration and Revocation
This oral power of attorney shall remain in effect until revoked by the Grantor. The revocation may be done orally by the Grantor or by any other means allowed by law. Until such revocation, the Agent's authority shall continue.
VI. Representations and Warranties
The Grantor represents and warrants that they are of sound mind and have the legal capacity to grant this power of attorney. The Agent accepts the appointment and agrees to act diligently and in the best interests of the Grantor.
VII. Confirmation of Oral Agreement
Both the Grantor and the Agent confirm that this oral agreement has been made willingly and with a full understanding of its implications. They affirm that they have discussed and agreed upon the terms outlined herein.
VIII. Governing Law
This Agreement shall be governed by the laws of [Jurisdiction], without regard to conflicts of law principles.
IX. Entire Agreement
This Agreement constitutes the entire understanding between the Grantor and the Agent regarding the subject matter herein and supersedes all prior agreements and understandings, whether written or oral.
X. Execution
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute the same instrument. The Grantor has signed this Agreement in the presence of witnesses.
Agreed and signed by [YOUR NAME], the Principal.
Date:
[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:
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