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Durable General Power of Attorney for Property & Finances (Immediate)  

Durable General Power of Attorney for Property & Finances (Immediate)

 
  The powers you grant in the Durable General Power of Attorney continue to be effective should you become disabled or incompetent.
 
A Durable General Power of Attorney does not authorize anyone to make medical or other health care decisions.
 
Power of Attorney Forms The Durable General Power of Attorney is an important legal document. It gives the person whom you designate (your "Agent", attorney-in-fact) broad powers to handle your property during your lifetime, which may include powers to mortgage, sell, or otherwise dispose of any real or personal property without advance notice to you or approval by you.
 
The other subjects discussed in a general durable Power of Attorney are:
  • stock and bond transactions,
  • commodity and options transactions,
  • business operating transactions,
  • banking, estate and trusts,
  • insurance and annuity transactions,
  • claims and litigation,
  • personal and family maintenance,
  • division of social security and other governmental benefits,
  • retirement plan transactions,
  • tax matters and gifts.
These powers are explained more fully in the uniform statutory form Power of Attorney Act, which expressly permits the use of any other or different form of Power of Attorney.
 
The General Durable Power of Attorney must be dated and acknowledged before a notary public or signed by two witnesses.
 
A Durable Power of Attorney that may affect a real property must be acknowledged before a notary public so it may easily be recorded.
 
Some counties may require you to register this power of attorney at the office of the Commissioner of Deeds for your county, or at the County Clerk's office.
 
If there is anything about this Durable General Power of Attorney form that you do not understand, you should ask a lawyer to explain it to you.
 
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