General Durable Power Of Attorney Form (Page 4 of 6) in pdf

General Durable Power Of Attorney Form Page 4

withdrawing a minimum distribution as required by the law.

changing the title on my accounts from sole owner to a revocable living trust, if a

revocable living trust has been established.

making a roll-over contribution to or from my deceased spouse’s retirement

account and to or from my retirement account.

making a roll-over contribution from one IRA account that I own to another IRA

account.

closing my IRA accounts with one financial institution and making a roll-over

contribution to another financial institution.

closing my IRA accounts and withdrawing all the funds.

acting in my name as current or future rules and regulations require.

17.

Restrictions on Agent’s Powers

My Agent:

cannot sign a Will, or Codicil (amendment to a will), or Trust on my behalf;

however, my Agent can sign a custodial agreement with a bank which has trust

powers.

cannot divert my assets to my Agent or my Agent’s creditors or estate, except as a

gift described in paragraph 14.

is a fiduciary and possesses no general or limited power of appointment.

has no authority to exercise any powers, the exercise of which would cause my

assets to be considered as taxable in my Agent’s estate for federal estate tax or

any state’s inheritance or estate tax.

18.

Interpretation and Governing Law

This document is to be interpreted under Michigan law as a general durable power of

attorney. Paragraph headings are for convenience only and must not be used to interpret this

document. Statements of specific powers do not restrict general powers granted to my Agent.

19.

Third-Party Reliance

Third parties have the right to rely on my Agent’s representation of any power that I have

granted to my Agent. Any person who relies on these representations will not be liable to me or

my estate for his reliance. To induce third parties to rely on this Power, I warrant that if this

Power is revoked by me or otherwise terminated, I will indemnify any third party from any loss

suffered or liability incurred in good faith reliance on the authority of my Agent before the third

General Durable Power Of Attorney Form Page 4