Tennessee Durable (Financial) Power of Attorney Form

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A Tennessee durable power of attorney form allows for the designation of a person (“agent”) to handle financial decision-making and affairs during the lifetime of someone else (“principal”). The representation, because it is “durable”, will remain valid even if the principal should become incapacitated. This means the agent should be a person that is highly trusted by the principal, such as a spouse or close family member. After signing, the form may be used by the agent.

Table of Contents

Laws

Title 6, Chapter 34, Part 1 (Uniform Durable Power of Attorney Act)

Definition of “Durable”

All acts done by an attorney in fact pursuant to a durable power of attorney during any period of disability or incapacity of the principal have the same effect and inure to the benefit of and bind the principal and the principal’s successor in interest as if the principal were competent and not disabled (§ 34-6-103).

Definition of “Power of Attorney”

A durable power of attorney is a power of attorney by which a principal designates another as the principal’s attorney in fact in writing and the writing contains the words “This power of attorney shall not be affected by subsequent disability or incapacity of the principal,” or “This power of attorney shall become effective upon the disability or incapacity of the principal,” or similar words showing the intent of the principal that the authority conferred shall be exercisable, notwithstanding the principal’s subsequent disability or incapacity (§ 34-6-102).

Signing Requirements

There are no laws, although, to authorize a health care power of attorney requires two (2) witnesses or a notary public (§ 34-6-203), and the same is recommended for this durable version.

Statutory Form

The Tennessee state legislature has not created a statutory power of attorney form but has included a detailed explanation of the various powers of an attorney-in-fact in § 34-6-109.

How to Write

1 – The Tennessee Paperwork For A Delegation Of Principal Power Is Downloadable Here

Select the “PDF,” “ODT,” or “Word” button to gain access to the delegation template. This document can be edited with the information it requests with a compatible program or it may be printed out then filled out with a typewriter or by hand. Make sure to use blue or black ink if you are filling it out manually.

2 – The Preparation Of This Delegation Requires Some Documentation

This appointment template enables an individual to appoint an Agent with the same Authority he or she has in certain matters. This individual, the Principal, must be clearly documented in the first paragraph of this form. State the Name of the Principal on the first blank line, his or her Complete Residential Street Address on the second blank line, and the State where his or her Residential Address is located in the third available space. The Attorney-in-Fact must also be accurately identified. An additional three blank lines have been supplied to the remainder of this paragraph, so this task may be completed. This information should consist of the Attorney-in-Fact’s Name, Complete Address, and State.

3 – This Assignment Will Need To Have A Defined Beginning

Before defining the Principal Powers to be delivered to the Agent through this document, we will need to indicate when any such Powers will first become active. Two options will be presented in the “Effective Date” part of this document. The Principal will need to initial the statement he or she wishes to define how this document will go into effect. If the terms in this paperwork become effective as soon as the Principal signs it into Execution, then he or she should initial Statement A. If the terms here remain dormant until the Principal is diagnosed as disabled and unable to make decisions for him or herself (in writing and by a Physician) then the Principal should initial Statement B.

4 – Principal Approval Is The Only Tool That Can Delegate Principal Power

The part of this paperwork titled “Powers Of Attorney-in-Fact will require the focus and participation of the Principal. Only the Principal issuing this document may grant Authority to an Agent and this Authority must be personally approved by the Principal. A list of Power Categories has been provided in this section to facilitate this process. The Principal must read the description of the Principal Decisions and Principal Actions the Attorney-in-Fact can conduct in his or her Name with Principal Authority. If a category contains Principal Authority that should be appointed to the Agent, then the Principal should initial the blank line preceding the label to grant it to the Agent. Thus, if the Principal intends to grant the Agent the Principal Authority to handle his or her “Banking,” “Lending Or Borrowing,” and “Personal Property” affairs while refraining from using Principal Power in other areas (such as dispensing “Gifts” or accessing “Safe Deposit Boxes” in his or her Name, then the Principal should initial the only categories labeled “Banking,” “Lending Or Borrowing,” and/or “Personal Property” and leave the other categories unmarked.

The first section after this list supplies several blank lines where any additional Principal Provisions can be documented. If there are additional Powers or Provisions that should apply to the Attorney-in-Fact, they should be reported in full using this area. If there is not enough room you can add more lines using an editing program or providing an attachment.

5 – When This Document Is Ready It Must Be Executed By Signature

The paperwork that we have just completed may contain the Principal’s initials of approval where appropriate, but it will also require the Principal to Date and Sign this document for its execution. The “In Witness Whereof” statement at the end of this appointment template will mark the beginning of this paperwork’s Execution area. The Principal must fill in the Date of Signature using the spaces provided here at the time of Signing. The Principal must sign his or her Name directly below the reported Signature Date. A blank line labeled “Principal’s Signature” will accept the Principal’s Signature of ExecutionThe Principal must have two Witnesses observe the signing. Each participating Witness will be obligated to read the Witness Testimonial after the Principal Signature then supply his or her Signature and Address to signify the Witness Testimonial Statement is true. Enough room has been supplied so that both Witnesses will have a distinct area to provide these items. The Notary Public will notarize the Principal Signature using the area provided under the Witness TestimonyThe “Specimen Signature And Acceptance Of Appointment” should have the Agent’s Full Name recorded on the first blank line. This should be printed. The Agent should read this statement then sign it before a Notary Public using the blank line labeled “Attorney-in-Fact’s Signature.”The Notary Public charged with Notarizing the Agent’s Signature will perform this action using the designated area below the Agent’s Signature line.

 

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