Statutory Durable Power Of Attorney Form Page 2

ADVERTISEMENT

I grant my agent (attorney-in-fact) the power to apply my property to make gifts, except
that the amount of a gift to an individual may not exceed the amount of annual exclusions
allowed from the federal gift tax for the calendar year of the gift.
ON THE FOLLOWING LINES YOU MAY GIVE SPECIAL INSTRUCTIONS
LIMITING OR EXTENDING THE POWERS GRANTED TO YOUR AGENT.
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
UNLESS YOU DIRECT OTHERWISE ABOVE, THIS POWER OF ATTORNEY IS
EFFECTIVE IMMEDIATELY AND WILL CONTINUE UNTIL IT IS REVOKED.
CHOOSE ONE OF THE FOLLOWING ALTERNATIVES BY CROSSING OUT THE
ALTERNATIVE NOT CHOSEN:
(A)
This power of attorney is not affected by my subsequent disability or incapacity.
(B)
This power of attorney becomes effective upon my disability or incapacity.
YOU SHOULD CHOOSE ALTERNATIVE (A) IF THIS POWER OF ATTORNEY IS
TO BECOME EFFECTIVE ON THE DATE IT IS EXECUTED.
IF NEITHER (A) NOR (B) IS CROSSED OUT, IT WILL BE ASSUMED THAT YOU
CHOSE ALTERNATIVE (A).
If Alternative (B) is chosen and a definition of my disability or incapacity is not
contained in this power of attorney, I shall be considered disabled or incapacitated for purposes
of this power of attorney if a physician certifies in writing at a date later than the date this power
of attorney is executed that, based on the physician's medical examination of me, I am mentally
incapable of managing my financial affairs. I authorize the physician who examines me for this
purpose to disclose my physical or mental condition to another person for purposes of this power
of attorney. A third party who accepts this power of attorney is fully protected from any action
taken under this power of attorney that is based on the determination made by a physician of my
disability or incapacity.
I agree that any third party who receives a copy of this document may act under it.
Revocation of the durable power of attorney is not effective as to a third party until the third
party receives actual notice 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.

ADVERTISEMENT

00 votes

Related Articles

Related forms

Related Categories

Parent category: Legal
Go
Page of 3