Free Printable Power of Attorney Forms | PDF Templates

Time 2021-04-22 16:10:28

Web Name: Free Printable Power of Attorney Forms | PDF Templates

WebSite: http://powerofattorney.com

ID:171688

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Power,of,Free,

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How to Get Power of Attorney (5 Steps)An individual may get power of attorney for any type in five (5) easy steps:Step 1 Choose an AgentSelect and ask someone that you trust if they would like to be your Agent or Attorney-in-Fact . Especially for a durable power of attorney, the agent selected should be someone you have trusted most of your life.Step 2 Select Your Power of AttorneyChoose from one of the following eight (8) types:Durable ($)  Financial only. Remains in-effect if the Principal becomes *incapacitated.General Financial only. It does not remain in effect if the Principal becomes *incapacitated.IRS (2848) Federal tax filing with the Internal Revenue Service.Limited Special activity or task.Medical Health care decision-making only. It becomes active only when the Principal becomes *incapacitated.Parental Minor s education, health, and everyday care. Most States limit this to a maximum of one (1) year.Real Estate Sale, purchase, or maintaining the property. Mostly used for real estate closings.Revocation To terminate or cancel a current power of attorney document.*Incapacitation is defined as not being able to make rational and cognitive decisions knowing full-well of the consequences of such decided actions.Step 3 Signing RequirementsAfter completing, you and the Agent(s) selected will need to check the bottom of the form for the requirements for authorization. In most cases, a Notary Public will need to be used or Two (2) Witnesses.Notary Public and 1 WitnessPrincipal Only (Notary Public and 2 Witnesses in Certain Circumstances)Notary PublicNotary Public and 1 WitnessPrincipal and Representative (Witness or Notary Public in Certain Circumstances)Principal OnlyNotary Public and 2 WitnessesPrincipal Only (Notary Public or 2 Witnesses in Certain Circumstances)Step 4 Holding and Accessing Original CopiesIt is important for all parties involved to have copies of their form. A power of attorney does not need to be recorded with any government office and is primarily held by the Principal and Agent(s).Step 5  Cancelling Power of AttorneyA Principal may terminate this arrangement by signing a Revocation Form. Otherwise, it will only cancel upon the death of the Principal.Why Have Power of Attorney?Accidents happen. Any person who should become incapacitated through an accident or illness would need to make arrangements beforehand for their financial and medial affairs.Financial Affairs A durable or general power of attorney allows for any type of financial transaction to be handled by someone else. The financial transactions include, but are not limited to,Real Property;Personal Property;Stocks and Bonds;Commodities and Options;Bank Accounts;Business Entity;Insurance and Annuities;Estates and other Beneficial Interests;Claims and Litigation;Taxes; andRetirement Plans.Medical AffairsAn advance directive, referred to as a living will or medical power of attorney , lets someone else handle health care decisions on someone else s behalf and in-line with their wishes. These powers include:Everyday medical decision-making;End-of-life decisions;Donation of organs;The nomination of a Conservator; andAutopsy authorizations.Other InstancesFor other nominations, a principal may assign power of attorney under a special circumstance with the limited form. In addition, if the principal is looking to have someone only handle personal and business filings the tax power of attorney should be used.

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