Free Downloadable Durable General Power of Attorney Form

Durable Power of Attorney

A durable power of attorney document is signed when a person is mentally competent in anticipation of a time when he or she will not be able to make decisions alone. This incapacity may be due to an illness, such as Alzheimer's Disease, or severe injury, such as a coma or brain trauma. The person acting as agent under the provisions of the POA may do so until either the person who signed it, known as the grantor, dies or the POA is revoked.

Parts of a Free Downloadable Durable Power of Attorney Form

A durable power of attorney document should cover the following topics:

• Authority
• Powers of the Agent
• Third Parties
• Revocation
• Compensation
• Alternate Agent

Authority

The first paragraph of the POA form should clearly identify the agent the grantor has selected and confirm the agent has authority to act on the grantor's behalf.

Powers of the Agent

In this portion of the document, the powers granted to the agent under the POA should be clearly set out. The agent may engage in such activities as:

• Day-to-day banking
• Bill-paying
• Preparing and filing income tax returns
• Acting on the grantor's behalf in various circumstances
• General maintenance and repairs to real property

If the grantor is in business, he or she may want the agent to participate in the business. The agent may be given the authority to:

• Sign agreements
• Hire, discipline, and/or terminate employees
• Vote at a stockholder's meeting
• Buy and/or sell the business or any business assets

The agent may also be give access to the grantor's safety deposit box, if one exists. In addition,the agent may act in legal actions that grantor was or may become involved in.

Third Parties

This paragraph explains that any person or corporation the agent deals with under the provisions of the POA are to recognize the agent's authority to act on behalf of the grantor.

Revocation

Include a provision that any previous POA documents are revoked by the grantor.

Compensation

The agent is entitled to be paid for his or her time. A specific fee may be listed on the document or it may state that the agent is to be paid a "reasonable" fee. The agent should also be compensated for expenses incurred while performing duties associated with acting on the grantor's behalf.

Alternate Agent

An alternate agent may be named on a POA document. It's a good idea to have a second person in mind in the event the original agent is unwilling or unable, through death or his or her own incapacity, from acting on the grantor's behalf.

Examples of Free Power of Attorney Forms

To find free downloadable durable power of attorney forms, visit the following websites:

• Legal and Business Forms
• La-Legal.com

The free forms available online are very basic ones; a better approach in a situation where there are complex issues present is to consult with an experienced attorney. This is good advice even when the grantor's financial affairs are relatively simple.

In most cases, a free downloadable durable power of attorney form, when notorized, is as binding as a POA drawn up by an attorney.