Incapacitated Power of Attorney
This document is prepared this [DATE], by me, [YOUR NAME], residing at [YOUR COMPANY ADDRESS]. I, as the Principal, designate [AGENT'S NAME] as my Attorney-in-fact.
I. Duties of Attorney-in-fact
Financial Management: The Agent shall have the authority to manage and make decisions regarding the Principal's finances, including but not limited to banking transactions, investments, payment of bills, and filing of taxes.
Healthcare Decisions: The Agent shall have the authority to make healthcare decisions on behalf of the Principal, including consenting to or refusing medical treatments, accessing medical records, and selecting healthcare providers.
Property Management: The Agent shall have the authority to manage the Principal's real and personal property, including buying, selling, leasing, or otherwise disposing of property, as deemed necessary for the well-being and benefit of the Principal.
Legal Matters: The Agent shall have the authority to initiate or defend legal actions on behalf of the Principal, including but not limited to signing legal documents, settling disputes, and representing the Principal in legal proceedings.
Personal Affairs: The Agent shall have the authority to handle other personal affairs of the Principal, such as managing household expenses, maintaining insurance policies, and making decisions related to the Principal's welfare.
II. Limitations on Power of Attorney
Limited Scope: This Power of Attorney is limited solely to the specific roles and responsibilities outlined herein and does not grant the Agent authority beyond those enumerated powers.
No Authority Over Trusts: The Agent shall not have the authority to make decisions or transactions involving any trusts established by the Principal unless specifically granted in a separate trust document.
No Personal Benefits: The Agent shall not use their position for personal gain or benefit, and any transactions or decisions made must be in the best interest of the Principal.
Non-Delegable Responsibilities: The Agent shall not delegate their responsibilities under this Power of Attorney to any third party unless expressly authorized by the Principal or required by law.
Review and Oversight: The Agent's actions shall be subject to review and oversight by designated individuals or entities as specified by the Principal or as required by law.
III. Effective and Termination Dates
Effective Date: This Power of Attorney shall become effective immediately upon execution by the Principal unless otherwise specified herein.
Termination Date: This Power of Attorney shall remain in effect until revoked by the Principal in writing or until the death of the Principal.
Revocation: The Principal reserves the right to revoke this Power of Attorney at any time, provided they are mentally competent to do so. The revocation must be made in writing and delivered to the Agent and any relevant third parties.
Automatic Termination: This Power of Attorney shall automatically terminate upon the death of the Principal or if a court of competent jurisdiction determines that the Principal is no longer incapacitated and capable of making their own decisions.
Notice of Termination: In the event of termination, the Agent shall promptly cease all activities and transactions on behalf of the Principal and notify relevant parties of the termination of this Power of Attorney.
IV. Signature Section
The Agent accepts the responsibilities outlined in this Power of Attorney and agrees to act in the best interests of the Principal.
Principal:
[YOUR NAME]
Agent:
[AGENT'S NAME]
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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