Oklahoma General (Financial) Power of Attorney Form

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Oklahoma General (Financial) Power of Attorney Form enables you to name a friend or relative to be in charge of your financial matters including the acquisition and disposition of your property and assets. As with all types of POAs, it is important that you think carefully about who would handle your affairs the way you would want them to – with integrity and care. The difference between this for and the durable for is that this form terminates upon the incapacity of the principal (the person who makes the POA). If you are looking to have a POA in place in the event you become incapacitated, you should consider using this form instead.

How to Write

1 – Determine And Download The File Type You Wish To Work With

The paperwork on this page should be saved to your computer. You may do this by selecting one of the buttons near the image to access the file type or your preference.

2 – Supplement The Title And Introduction With Requested Information

Once you have downloaded and reviewed this paperwork, supply the blank line in the title and the first line in the introduction with the Principal’s Full Name. This is the Grantor of Authority in this document. Continue documenting this entity’s information by supplying his or her Residential Street Address and State of Residence on the next two blank lines. Now that we have identified the Grantor, we must solidify the identity of the Attorney-in-Fact. Three blank spaces have been furnished so that you may present the Full Name, Street Address, and State of the Attorney-in-Fact. This entity is the Agent who shall wield Principal Authority on behalf of the granting Principal.

3 – The Grantor Must Initial Each Power To Be Conferred To The Attorney-in-Fact

This document must now turn its focus to the nature of the Powers being granted by the Principal to the Attorney-in-Fact. The Principal will need to approve each power granted by his or her initials. Thus, only the Principal may grant such Authority. If he or she omits an item from being initialed it will not be granted.

If the Principal wishes the Agent to be able to borrow and lend money on his or her behalf, then he or she must initial the first statement in this section (“1. Power To Make Payments Or Collect Monies Owed”)The second statement (“2. Power To Acquire, Lease And Sell Personal Property”) shall define the Agent’s ability to deal with the Principal’s Personal Property. For instance, if the Grantor initials the second statement, the Attorney-in-Fact will be able to purchase, lease, sell and rent the Principal’s Personal Property. The Principal should initial this statement only if he or she wishes the Agent to perform the actions listed within it. The Attorney-in-Fact’s Principal “Power To Acquire, Lease And Sell Real Property” on behalf of the Grantor will be discussed in the third statement. This will empower the Agent to perform such actions as grant options or convey real property as if he or she were the Principal if the Principal initials the corresponding blank line. The Principal can approve the Attorney-in-Fact’s Principal Power to manage Property. He or she will need to initial the fourth statement (“4. Management Powers”) if the Agent should hold such Authority. The fifth statement’s language shall enable the Principal’s Attorney-in-Fact to deal with Banks and other financial institutions on behalf of the granting Principal. Actions such as issuing checks, opening and closing accounts, or even releasing deeds of trusts using the Principal’s Name. To grant this Authority, the Principal should initial the blank line corresponding to “5. Banking Powers.”The Principal’s initials should be presented with the sixth statement (“6. Motor Vehicles”) if the Authority to act as the Principal regarding the Principal’s vehicles (i.e. Motorboat, Automobile) should be granted the Agent. Such Powers will enable the Attorney-in-Fact to deal with paperwork involving Titles, Transfers, etc. The seventh statement will focus on the Principal’s Taxes. He or she can appoint the Agent with the Authority to act as a representative with Tax entities. If the Principal initials “7. Tax Powers,” he or she will approve the Agent performing such actions to make claims, file extensions, and arrange payments regarding the Principal’s Tax Matters. The Principal should make sure to read this paragraph thoroughly before granting its Powers to the Agent through his or her initials. The Attorney-in-Fact can be given the Principal Authority to access (by drilling if necessary) and control Safe-Deposit Boxes using the Principal’s Name through the wording in “8. Safe-Deposit Boxes.” The Principal should initial this line if he or she has determined the Agent should be able to perform such actions when necessary. The ninth statement’s language shall enable an Agent to make gifts in the Principal’s name. Additionally, he or she will be able to forgive debts, transfer gifts, or receive and decline in the Principal’s name if the granting Principal initials “9. Gift Making Powers.”The Principal’s ability to Lend and Borrow can be conferred to the Attorney-in-Fact if the Principal has determined the Agent should perform actions such as borrowing money (even jointly with other parties) and/or pledging collateral or security on his or her behalf. The tenth statement (“10. Lending And Borrowing”) will define all such actions in this matter and can be applied to the Agent’s Principal Powers upon the granting Principal’s initials.

The Attorney-in-Fact can be given the right to engage in contractual agreements on behalf of the Principal if the Principal initials the eleventh statement (“11. Contracts”).

The twelfth statement provides the Principal with the ability to name the Attorney-in-Fact to make some “Health Care” decisions on his or her behalf. Here the Agent will be able to access the Principal’s medical records and arrange for his or her medical treatment. Such Authority will only be granted upon the Principal’s initials. The thirteenth statement shall appoint the Agent with the Authority to act as the Principal’s Personal Representative as per the Health Insurance Portability And Accountability Act of 1996 if it is initialed by the Principal. The “Power To Hire And Pay For Services” on behalf of the Principal can be given to the Attorney-in-Fact once the Principal initials the fourteenth statement. It should be noted the Agent will be able to use the Principal’s name to hire any entity (i.e. social workers, accountants, contractors, etc.) through the language this statement contains. Sometimes it is appropriate to allow the Attorney-in-Fact to have the Principal Power to make a reimbursement for reasonable expenses available. The Principal can give this Authority to the Agent by initialing “15. Reimbursement Of Attorney-in-Fact.”The Attorney-in-Fact can be granted the Authority to engage in lawsuits (on behalf of the Principal) against any entity that does not recognize this document’s Authority. The Principal is encouraged to give a strong review of the sixteenth statement before initialing it to grant this Power to the Agent. The final item on this list does not contain any wording. “17. Other” has been presented so the Principal may physically deliver additional Powers to the Agent. This item will also need to be initialed (by the Principal/Grantor) if any such Powers are delivered in this area.

4 – Report Effective Period When The Agent Holds Principal Authority

This paperwork will need to apply a Period of Effect to the Principal Powers delivered above. Naturally, we will begin with when this delegation of Principal Powers will go in Effect. The first two statements in “III. Effective Date And Termination,” provide the Principal with a choice. These Powers can go in Effect upon this document’s signing (first statement) or these Powers can only become Effective on a certain Date (second statement). The Principal must initial the blank line preceding the statement that aptly defines his or her preferences on this matter. Note: If the Powers become Effective as of a certain Date provide the Effective Date on the blank lines provided (DD/Month/YY) in the second choice. The Termination of this Effect must also be addressed. The Principal will accomplish this by initialing one of the three statements below the statement “To Indicate When This Document Shall Become Terminated…” The Principal can choose to have the Termination occur automatically on a specific Date by initialing the first statement and filling in the desired Termination Date. Otherwise, the Principal can choose to make this a Durable Authority by initialing the second statement or set it to naturally terminate the moment he or she is diagnosed as incapable of making his or her own decisions.

5 – The Final Tasks Requires The Principal’s Signature

Once all the Principal wishes have been documented accurately and approved, he or she will need to Execute this document, so the Agent may carry out the Principal’s instructions with Principal Authority. The granting Principal should locate the last statement (“In Witness Whereof, I Have On This”), then supply his or her Date of Signature across the three blank lines provided in this statement. The blank lines labeled “Principal’s Signature” and “Principal’s Printed Name” require the Signature and Printed Name of the Principal supplied accordingly. Only the Principal can satisfy these lines. The Attorney-in-Fact or Agent will also need to prove his or her acknowledgment and acceptance of being delegated Principal Powers. This requirement will be addressed in “Acceptance Of Appointment.” Print out the Agent’s Name on the blank line in the presented statement. Once the Attorney-in-Fact has read and agreed to this statement, the Attorney-in-Fact will need to provide his or her Signature and Printed Name on the two blank lines. Similarly, each Witness participating in this Principal Signing will also need to prove the Witness Testimony provided under the heading “Witness” by reading the statement provided then signing one of the blank “Witness” lines under this passage. After providing a signature each Witness must also report his or her “Address.”

Finally, the Notary Public who has observed the party signing of this document will subject it to the Notarization process thereby substantiating its execution with a Notary Seal.