Breach Of Fiduciary Duty Power of Attorney
This Breach of Fiduciary Duty Power of Attorney ("Agreement") is made on the 20th Day of January 2050, by and between [YOUR NAME], residing at [YOUR ADDRESS] (the "Principal"), and [ATTORNEY-IN-FACT'S NAME], residing at [ATTORNEY-IN-FACT'S ADDRESS] (the "Attorney-in-fact").
I. Appointment of Attorney-In-Fact
The Principal hereby appoints the Attorney-in-fact to act in all matters related to their financial affairs, with full power and authority to perform all necessary and lawful acts.
II. Powers Granted
The Attorney-in-fact is granted the following powers and responsibilities:
Financial Management: The Attorney-in-fact shall manage the Principal's finances prudently and solely in the best interests of the Principal. This includes but is not limited to managing bank accounts, investments, and paying bills on behalf of the Principal.
Healthcare Decisions: The Attorney-in-fact shall make healthcare decisions on behalf of the Principal, ensuring that the Principal's medical needs are met and that medical treatments are administered according to the Principal's wishes and best interests.
Property Management: The Attorney-in-fact shall manage and maintain the Principal's real and personal property, including but not limited to buying, selling, leasing, or mortgaging property as necessary. The Attorney-in-fact shall ensure that all property transactions are conducted in the Principal's best interests.
Legal Representation: The Attorney-in-fact shall represent the Principal in all legal matters, including but not limited to lawsuits, contracts, and negotiations. The Attorney-in-fact shall engage legal counsel as necessary and make decisions on behalf of the Principal with the utmost care and consideration for the Principal's interests.
Personal Care: The Attorney-in-fact shall provide for the personal care and welfare of the Principal, ensuring that their needs for food, shelter, and healthcare are met.
III. Effective Date and Termination
This Power of Attorney shall begin on the 20th day of January 2050 and shall remain in effect until the 20th day of January 2052 unless earlier revoked by the Principal or terminated by operation of law.
IV. Breach of Fiduciary Duty
In the event that the Attorney-in-fact fails to fulfill their fiduciary duties to the Principal, including but not limited to:
Mismanagement of Finances: This includes unauthorized use of the Principal's funds, failure to keep accurate financial records, or engaging in transactions that do not serve the best interests of the Principal.
Failure to Act in the Principal's Best Interests: If the Attorney-in-fact makes decisions that benefit themselves or others at the expense of the Principal, or if they fail to prioritize the Principal's interests when making financial, legal, or healthcare decisions.
Conflict of Interest: If the Attorney-in-fact engages in transactions or activities that create a conflict between their interests and those of the Principal, or if they fail to disclose any potential conflicts of interest.
Neglect or Abuse: This includes neglecting the Principal's needs for food, shelter, medical care, or personal hygiene, as well as any form of physical, emotional, or financial abuse.
Unauthorized Actions: If the Attorney-in-fact exceeds the authority granted to them under this Power of Attorney agreement, or if they act beyond the scope of their powers without the Principal's consent.
In any of these circumstances, it shall be constituted as a breach of this Power of Attorney. The Principal or their legal representative may take legal action to protect the Principal's interests and rights.
V. Signature
In witness whereof, the Principal and the Attorney-in-fact have executed this Breach of Fiduciary Duty Power of Attorney on the date first above written.
Principal:
[YOUR NAME]
[DATE SIGNED]
Attorney-in-fact:
[ATTORNEY-IN-FACT'S NAME]
[DATE SIGNED]
VI. Witness Acknowledgement
We, the undersigned witnesses, certify that the Principal and the Attorney-in-fact signed this Breach of Fiduciary Duty Power of Attorney in our presence.
Witness 1:
[WITNESS 1 NAME]
[DATE SIGNED]
Witness 2:
[WITNESS 2 NAME]
[DATE SIGNED]
VII. Notary Acknowledgment
On the 20th day of January 2050, before me, a Notary Public in and for said county and state personally appeared [YOUR NAME] and [ATTORNEY-IN-FACT'S NAME], known to me to be the persons whose names are subscribed to the foregoing instrument, and acknowledged that they executed the same for the purposes therein contained.
In witness whereof, I have hereunto set my hand and official seal.
[NOTARY PUBLIC'S NAME]
My Commission Expires:
Power of Attorney Templates @ Template.net
