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California Durable (Financial) Power of Attorney Form

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California Durable (Financial) Power of Attorney Form is a legal form that allows an individual to act in the place of another individual. The principal grants these powers to a trusted friend or relative called an agent. The agent can only act as the principal specifies and the agent has a fiduciary responsibility to act in the best interests of the principal. It should be noted that because it is considered “durable,” the powers granted to the agent continue even if the principal becomes incapacitated.

LawsProbate Code Section 4400-4409


Medical Power of Attorney (Advanced Health Care Directive) – Use this form to list an agent to take care of your healthcare decisions once it becomes impossible for you to do so yourself.

How to Write

1 – Open The California Durable (Financial) Power of Attorney Form

This paperwork is available as a PDF, ODT, or Word file and may be accessed through the similarly labeled buttons on this page. You may work directly on-screen by opening the file in a form friendly browser or the correct software. You may also print it then fill in the requested information manually.

2 – Record Relevant Party Information

This form will require a clear Identification of the Principal and the Agent. To begin, read the introduction then use the first two blank spaces to fill in the Name of Principal and the Principal’s Address.

The next line will have two blank spaces requesting the Name of Agent and the Agent’s Address

 

3 – Grant The Power Of Principal Authority To The Agent

In the next section, the Principal must place his or her initials next to each power he or she intends to grant the agent. It is recommended that the principal cross off the powers that he or she does not wish to grant the agent. As a matter of convenience, if all the powers will be granted to the Agent, the Principal may leave items A through M blank and merely initial Item N (on the last line of this list)

The Principal should initial Item (A) to grant the Agent Authority in Real property transactions

If the Principal wishes to grant power over Tangible personal property transactions, then he or she must initial Item (B)The Agent will receive the Authority of Principal Power over the Principal’s Stock and bond transactions if he or she initials Item (C)The Agent will be granted power over the Principal’s Commodity and option transactions if Item (D) is initialed.

The Principal may grant the Agent Authority in Banking and other financial institution transactions by initialing Item (E)The Agent will be given power over Business operating transactions if the Principal provides his or her initials in Item (F)If the Principal requires the Agent to have power over the Principal’s Insurance and annuity transactions then, he or she must initial Item (G)The Principal may grant Principal Power over his or her Estate, trust, and other beneficiary transactions to the Agent by initialing Item (H)The Agent will receive Authority over the Principal’s Claims and litigation when Item (I) is initialed by the PrincipalAuthority regarding the Principal’s Personal and family maintenance will be given to the Agent if the Principal initials Item (J)The Agent will be granted Principal Authority in the Principal’s Benefits from social security, medicare, medicaid, or other governmental programs, or civil or military if the Principal provides his or her initials in Item (K)The Agent will have Principal Authority over the Principal’s Retirement plan transactions if the Principal initials Item (L)The Principal may grant the Power of Authority to the Agent regarding his or her Tax matters by initialing Item (M)ALL OF THE POWERS LISTED ABOVE will be granted to the Agent if the Principal initials Item (N). If the Principal initials this item, make sure none of the other items are initialed.

3 – Declaring Specific Instructions Regarding Principal Authority

If there are other instructions for the agent, they can be entered on the first part of the second page.

4 – Define This Document’s Durability

If you do not want this to be a durable power of attorney, you may cross off the following sentence on the second page:

“This power of attorney will continue to be effective even though I become incapacitated.”

5 – When Other Agents Have Principal Authority

If you have designated more than one agent and want them to be able to act separately or jointly, fill in the correct term on the second page.

6 – Notarize The Form’s Execution

Next, make sure you have your agent and notary public available before you sign the document. Once they are available, sign and date the document in front of them and have them sign as well. Keep your power of attorney in a safe place and make sure your agent has a copy.

The Signature Date must be provided in the last statement on this form (before the Signature Lines).  Upon providing the Signature Date, the Principal must Sign his or her name and provide his or her Social Security Number below the Signature

The next page has been provided for the convenience of the Notary Public. This is the only entity who may notarize this form at the time of signing.

The final page of this form is titled a “Notice to Person Executing Durable Power Of Attorney.” This page must be read and comprehended by the Signature Principal. Once this is done, the Principal must sign his or her name at the bottom of the notice.

 


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