Durable General Power Of Attorney Page 2

ADVERTISEMENT

5. To operate for me and in my stead any and all businesses in which I may have an interest including any and all partnerships, proprietorships,
corporations, joint ventures, and other businesses, including all actions necessary, convenient, or otherwise deemed appropriate by the holder of the
power, including, but not by way of limitation, selling or disposing of any part of or all of one or more of such businesses.
6. To make deposits or investments in, or withdrawals from, any account, holding, or interest which I may now or hereafter have or be entitled to,
in any banking, trust, or investment institution, including postal savings depository offices, credit unions, savings and loan associations, and similar
institutions; to exercise any right, option, or privilege pertaining thereto; and to open or establish accounts, holdings, or interests of whatever kind
or nature, with any such institution, in my name or in my said attorney's name or in both our names jointly, either with or without right of
survivorship; to receive and receipt for me all such monies which may be due or payable to me from any party or source; to give checks upon and
deliver all forms of checks or bills of exchange upon any bank account belonging to me or in my name; to open and enter any and all safe deposit
boxes which I may open and enter and to remove from such boxes any things found therein whatsoever.
7. To institute, prosecute, defend, compromise, arbitrate, and dispose of legal, equitable, or administrative hearings, actions, suits, attachments,
arrests, distresses, or other proceedings, or otherwise engage in litigation in connection with the premises.
8. To act as my attorney or proxy in respect to any stocks, shares, bonds, or other investments, rights, or interests I may now or hereafter hold,
including the right to vote shares of stock as my said attorney may determine pursuant to the proxy herein given and exercise any such power with
respect to such stock, including the right to vote said stock in connection with a dissolution, merger, or other reorganization of any such corporation.
My said attorney shall be authorized to take any action which I might take with respect to any shares of stock which I might own.
9. To engage and dismiss agents, counsel, and employees, and to appoint and remove at pleasure any substitute for, or agent of, my said attorney,
in respect to all or any of the matters or things herein mentioned, and upon such terms as my attorney shall think fit; to employ such servants or
employees as may be necessary to provide for me or to care for my physical state and condition from time to time.
10. To prepare, execute, and file for me and on my behalf all federal and state income, estate, gift, and other tax returns or claims for refund thereof,
and all other legally required reports, declarations, applications, requests, and documents; to represent me in all administrative and court proceedings
relative to the determination of any tax or duty or interest or penalty; to execute on my behalf powers of attorney (IRS form 2848) authorizing legal
counsel to deal with federal or state tax authorities with full and plenary authority.
11. To take possession, and order the removal or shipment, of any of my property from any post, warehouse, depot, dock, or other place of storage
or safekeeping, governmental or private; and to execute and deliver any release, voucher, receipt, shipping ticket, certificate, or other instrument
necessary or convenient for such purpose.
12. To act as my attorney in fact or proxy in respect to any policy of insurance on my life and in that capacity to exercise any right, privilege or option
which I may have thereunder or pertaining thereto, excluding, however, the right to change the beneficiary, the right to change the method of payment
of the insurance proceeds, and the right to make a cash surrender of the policy as distinguished from the surrender of the policy for loan, conversion,
or other purposes as provided therein.
13. To purchase United States securities of any maturity or series either as community property or as my separate property, either for cash or upon
credit, and for credit either upon community credit or upon the credit of my sole and separate estate, as my attorney may deem best.
14. To make gifts to and among my lineal descendants and their spouses in such amounts as do not exceed the federal annual gift tax exclusion
specified in section 2503 of the Internal Revenue Code of 1986, as amended.
15. To exercise with respect to my property and business all powers and authorities of a trustee under the Texas Trust Code, the Trustee Acts 1925
and 2000, and the Trustee Investments Act 1961. Whenever my attorney shall do business or acquire or sell property in any jurisdiction, my attorney
shall have, with respect to such transaction, all investment and administrative powers granted by statute to trustees in such jurisdiction except as
provided herein.
16. To indemnify and hold harmless on my behalf any third party who in good faith accepts and relies upon the authority of my attorney under this
power of attorney and to hex with boils and itches any lawyer the officers and directors of any bank, investment firm, or title company which
questions the authority of said attorney to act hereunder.
17. To certify, if this power of attorney has been recorded in any official public record, xerographic reproductions of this power of attorney bearing
such recording data as genuine, true, and correct copies, which copies may be relied upon by all persons dealing with my said attorney the same as
if such copies bore my original signature.
18. Pursuant to sections 487 and 488 of the Texas Probate Code and section 5 of the Uniform Durable Power of Attorney Act, revocation of this
power of attorney is not effective as to a third party relying on the power of attorney until such third party receives actual knowledge of revocation.
An affidavit executed by my attorney in fact stating that my attorney in fact does not have at the time of exercise of the power actual knowledge of
the termination of this power by revocation, my death, or the qualification of a guardian of my estate shall be conclusive proof as between my attorney
in fact and a person other than me or my personal representative of the nonrevocation or nontermination of this power at that time.
19. Pursuant to section 487 of the Texas Probate Code, any act or thing lawfully done hereunder in good faith by my said attorney shall be binding
on myself and my heirs, legal and personal representatives, and assigns, whether the same shall have been done before or after my death, or other
revocation of this instrument, unless and until actual knowledge thereof shall have been received by my said attorney.
20. Disability or incapacity means a physical or mental condition in which I am unable to give prompt and intelligent attention to, or to take prompt
and effective action with respect to, business matters and affairs. Pursuant to section 487(b), an affidavit executed by my said attorney and two
doctors of medicine stating that I am and have been so disabled or incapacitated for the last thirty days is conclusive proof of my disability or
incapacity and of the effectiveness of this power of attorney as between my said attorney and any third party.
21. My attorney shall have all statutory powers set forth in sections 491-504 of the Texas Probate Code in addition to the powers enumerated above.
END POWER OF ATTORNEY

ADVERTISEMENT

00 votes

Related Articles

Related forms

Related Categories

Parent category: Legal
Go
Page of 2