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South Dakota Durable (Financial) Power of Attorney Form

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South Dakota Durable (Financial) Power of Attorney Form is a written method where a person can designate a trusted friend or relative to manage his or her financial affairs. This will include the right to engage in the acquisition and disposition of property. You may wonder why anyone would want to give another so much power over their affairs. There are times when people anticipate being unavailable for an extended period of time and wish to have a person in place to take care of issues as they come up. The durable form can be useful for long-term planning because it remains in effect even if the person creating it eventually is deemed incapacitated and unable to make their own decisions. This differs from a general power appointment which terminates when you are incapacitated. If you do wish the agent’s ability to terminate if you are rendered unable to communicate then you may consider the South Dakota General Power of Attorney.

Laws§ 59-6-11

Medical Care Power of Attorney – The Medical POA is used when an individual is ready to select their health care representative to make medical decisions on their behalf.

How to Write

1 – Download A Copy Of The Principal Appointment Template

The paperwork, supplied through the buttons under the image on this page, is a written tool enabling the assignment of Principal Powers to an Attorney-in-Fact. Download a copy for a review, then fill it out at your discretion.

2 – Begin This Paperwork With An Official Identification Of Each Concerned Party

The first three empty lines in the first paragraph have been set in place so the Principal’s Legal Name, Residential Street Address, and Residential State can be clearly presented.

The last three spaces of the first paragraph require the Attorney-in-Fact’s Full Name as well as his or her Residential Address and State.

3 – Indicate Principal Determined Calendar Date When This Appointment Becomes Effective

The first section, “Effective Date,” shall seek a clear presentation of when the Principal wishes the Attorney-in-Fact to start using the Principal Authority defined in this appointment. The Principal will need to initial one of two statements in this section to apply one of them as the definition of the Start Date. He or she can initial Statement “A” to set the Start Date as the Signature Date of this delegation or initial Statement “B” to set the Start Date as whenever he or she is diagnosed as being disabled or incapacitated and unable to make decisions.

4 – The Principal Can Choose Which Areas The Attorney-in-Fact Should Be Appointed Power Over

The “Powers Of Attorney-in-Fact” section of this template will seek the Principal definition of the Principal Powers being assigned to the Attorney-in-Fact. The Principal will deliver these definitions by choosing from the list of paragraph definitions. The Principal must initial each paragraph that he or she has chosen to define the Principal Powers the Attorney-in-Fact may wield on his or her behalf.

The first paragraph submitted for the Principal’s review is labeled “Banking.” It will contain the structure necessary to give the Attorney-in-Fact the Principal Power to engage in Banking activities on behalf of the Principal. This Principal Actions that can be taken with this Power will be defined within this paragraph.f the Attorney-in-Fact can wield Principal Power to have access and control over the Principal’s “Safe Deposit Box” then, the Principal will need too initial the blank line that precedes the second paragraph. To deliver the Principal Power of “Lending Or Borrowing” to the Attorney-in-Fact, the Principal must initial the third paragraph. The Attorney-in-Fact can utilize Principal Power to represent the Principal’s interests with his or her “Government Benefits” when the Principal’s initials are supplied to the corresponding blank space. The Principal can deliver the Authority he or she carries to the Principal where his or her Retirement Plans are concerned, however, the wording will not allow the Principal to give the Attorney-in-Fact the right to change beneficiaries set by the Principal with Retirement Plans or IRA’s. The language in the “Taxes” statement will set the Attorney-in-Fact Principal Powers to include representation of the Principal interests in his or her Tax Matters. The Attorney-in-Fact will be able to make decisions on behalf of the Principal in these matters as per the language here however some Tax Entities may require some additional information. The Attorney-in-Fact will be able to assume Principal Power with the Principal’s “Insurance” plans by initialing the blank line before this paragraph’s label. If the Principal wishes to assign the Attorney-in-Fact with the same decision-making Power he or she with “Real Estate,” then he or she must initial the blank line corresponding to the bold words “Real Estate.”The Principal can designate the Principal Authority of acquiring or delivering “Personal Property” of the Principal in a variety of ways (i.e. selling, trading, etc.) by initialing the ninth paragraph. If the Attorney-in-Fact should be able to wield Principal Authority required to make decisions and take actions with Property Management in the Principal’s Name then, the Principal must initial “Power To Manage Property” line. The wording of the “Gifts” description delivers the Principal Power to make, grant, or waive Gifts (amongst other things) by initialing the “Gifts” line. The Principal Powers where any “Legal Advice And Proceedings” may be obtained, paid for and initiated on behalf of the Principal by the Attorney-in-Fact when the Principal initials the blank space preceding the final paragraph definition on this list. The next area, designated as “Special Instructions,” allows any instructions or directives not presented in the list above to be included with this document’s issuance. That is, several empty lines have been supplied so that any such additional instructions can be presented with this template, you may continue on an attachment if there is not enough room.

5 – Each Required Signature Parties Must Produce Several Items

The remainder of this template will simultaneously supply a wealth of information as well as setting certain terms that must be included for the proper use of this paperwork. Such documentation should be read and comprehended by both Principal and Attorney-in-Fact. Once the Principal is satisfied with this document and that his or her preferences are full understood, he or she should prepare the Signature Area by entering the Calendar Date when he or she is signing it. The Principal should use the blank spaces in the final statement before the Signature area to record the Date. It is mandatory the Principal signs his or her Name on his or her Signature line (designated as “Principal’s Signature”) immediately after supplying the Signature Date in the last statement. Naturally, the Principal’s Signature will need to be taken seriously by entities presented with it. Thus, some additional documentation will be required. The Witness Statement underneath the Principal’s Statement will require the attention of two human beings who have watched the Principal Act of Signing occur. Each one of these people will need to sign his or her name to a unique “Witness Signature” line and disclose his or her Address below it. The next segment of this document is structured specifically for the use of a Notary Public to notarize this document.