Lasting Power of Attorney
I, [Your Name], residing at [Your Company Address], hereby appoint [Agent's Name], residing at [Agent's Address], as my attorney-in-fact (hereinafter referred to as "Agent"), to act on my behalf in all matters relating to my personal and financial affairs, as provided herein.
I. Scope of Authority
The Agent shall have the authority to make decisions and take actions on my behalf concerning all matters related to my finances, property, healthcare, and personal welfare, should I become unable to do so due to mental incapacity or physical disability.
II. Effective Date and Duration
This Lasting Power of Attorney shall become effective immediately upon signing and shall remain in effect indefinitely unless revoked by me.
III. Agent's Duties and Responsibilities
Fiduciary Duty: The Agent shall act in my best interests, exercising diligence, care, and prudence in managing my affairs.
Regular Communication: The Agent shall keep me informed of all decisions made and actions taken on my behalf, to the extent possible.
Record Keeping: The Agent shall maintain accurate records of all transactions and decisions made on my behalf.
Maintaining Confidentiality: The Agent shall maintain the confidentiality of all information related to my affairs.
Compliance with Laws: The Agent shall comply with all applicable laws and regulations in carrying out their duties.
IV. Revocation Clause
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. Any such revocation must be made in writing and delivered to the Agent(s).
V. Specific Powers
In addition to the general authority granted herein, the Agent shall have the specific power to:
Manage my bank accounts and investments.
Buy, sell, or manage real estate property on my behalf.
Make healthcare decisions, including consenting to or refusing medical treatments.
Access and manage my digital assets and online accounts.
Execute legal documents on my behalf, including contracts and agreements.
VI. Remedy and Penalty Clause
In the event the Agent fails to fulfill their duties or acts contrary to my best interests, they shall be liable for any damages incurred as a result of their actions or omissions.
VII. Termination
This Power of Attorney shall terminate upon my death or if a court determines that I am no longer incapacitated or disabled. Additionally, I reserve the right to terminate this Power of Attorney at any time, as provided in the Revocation Clause.
VIII. Governing Law
This Power of Attorney shall be governed by the laws of [State/Country] without regard to conflicts of laws principles.
IN WITNESS WHEREOF, the undersigned Principal and Agent have executed this Power of Attorney on [DATE].
Principal:
[Your Name]
Agent:
[Agent's Name]
WITNESS ACKNOWLEDGEMENT
We, the undersigned witnesses, certify that [Your Name] executed this Lasting Power of Attorney in our presence and appeared to be of sound mind and under no duress or undue influence.
Witness 1:
[Witness 1 Name]
[Date]
Witness 2:
[Witness 2 Name]
[Date]
NOTARY ACKNOWLEDGEMENT
On this, day of in the year , before me, a Notary Public in and for said Country and State, personally appeared [Your Name], known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me 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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