Pennsylvania General Power Of Attorney Form Page 5

ADVERTISEMENT

This General Power of Attorney and the rights, powers, and authority of my Agent shall
become effective immediately upon execution of this instrument. The rights, powers, and
authority of this document shall remain in full force and effect thereafter until my death
or until my disability or incapacity.
As used herein, "disability" or "incapacity" shall mean a lack of capacity to receive and
evaluate information effectively, to communicate decisions, and/or to manage my
financial resources and affairs properly.
My Agent shall be entitled to reimbursement of all reasonable expenses incurred as a
result of carrying out any provision of this Power of Attorney. If desired, my Agent shall
also be entitled to reasonable compensation for any services provided as my Agent
If so requested by myself or any authorized personal representative or fiduciary acting on
my behalf, my Agent shall provide an accounting for all funds handled and all acts
performed as my Agent.
This Power of Attorney shall be construed broadly as a General Power of Attorney. The
listing of specific terms, rights, acts or powers are not intended to restrict or limit the
definition or scope of powers granted herein in any manner. If any part of this document
is held to be invalid, illegal or unenforceable under applicable law, then the remaining
unaffected parts of the document shall still remain in full force and effect and not be
affected by any partial invalidity.
No person needs to inquire as to the reasons for the use or issuance of this power-of-
attorney or as to the disposition of any proceeds paid to my Agent based on this
document.
The powers granted to my Agent by this power-of-attorney are limited to the extent
necessary to prevent (a) my income to be taxable to my Agent; (b) my Agent to have any
rights or ownership with respect to any life insurance policies I may own on the life of
my Agent; and/or (c) my assets to be subject to a general power of appointment by my
Agent.
Any third party who receives a copy of this document may act under it. Revocation of the
power of attorney is not effective as to a third party until the third party has actual
knowledge of the revocation. I agree to indemnify the third party for any claims that arise
against the third party because of reliance on this power of attorney. If this General
Power of Attorney is terminated by operation of law, any person relying in good faith on
the authority of this document, without notice of such termination, shall be held harmless.
Agent shall not be liable for losses resulting from judgment errors made in good faith.
However, Agent will be liable for breach of fiduciary duty, failure to act in good faith
and/or willful misconduct, while acting under the authority of this Power of Attorney.
- 3 -

ADVERTISEMENT

00 votes

Related Articles

Related forms

Related Categories

Parent category: Legal
Go
Page of 8