General Durable Power of Attorney
for Property and Finances or
Financial Effective upon Disability
This General Durable Power of Attorney which is intended to become effective upon
ocstoc Legal Agreements
Disability and is intended to be used by an individual to appoint an Attorney-in-Fact or
Agent to make decisions for him or her regarding property, financial, banking,
management, business and other related matters. However, this Power of Attorney does not
cover medical and health care services.
ALL INFORMATION AND FORMS ARE PROVIDED “AS IS” WITHOUT ANY EXPRESS OR IMPLIED
WARRANTY, INCLUDING AS TO LEGAL EFFECT OR COMPLETENESS. They are for guidance and should be
modified by you or your attorney to meet your specific needs and the laws of your state. Use at your own
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kind of advice and are not creating or entering into an Attorney-Client relationship. The information and forms
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Entire document © Docstoc, Inc., 2010, 2011
Attorney Drafted
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GENERAL DURABLE POWER OF ATTORNEY
THE POWERS YOU GRANT BELOW ARE EFFECTIVE
ONLY IF YOU BECOME DISABLED OR INCOMPETENT
KNOWN BY ALL PERSONS PRESENT, THAT:
I, _______________________________ [Instruction: Insert the name of the principal], residing at
______________________________________ [Instruction: Insert the address of principal],
(“Principal”), execute this Durable Power of Attorney and do hereby make, constitute and
appoint: ___________________________________ [Instruction: Insert the name of agent ], residing
at __________________________ [Instruction: Insert the address of agent ], (“Agent” or
"Attorney-in-Fact"), TO ACT IN MY NAME, PLACE AND STEAD in any lawful way with
respect to the following provisions:
1. Effectiveness of Power of Attorney: This instrument is to be construed and interpreted as a
General Durable Power of Attorney effective only upon my disability, incompetency or
incapacity.
2. Grant of Powers: I grant to my Agent full power and authorization to do everything
necessary in exercising any of the powers herein granted by this Power of Attorney as fully
as I might or could do if personally present. My Agent shall have full power of substitution
or revocation. I hereby ratify and confirm all that my Agent lawfully does or causes to be
done by virtue of this Power of Attorney and the powers herein granted. My Agent shall have
the power to exercise or perform any act, power, duty, right or obligation whatsoever that I
now have or may hereinafter acquire, relating to any person, matter, transaction or property,
real or personal, tangible or intangible, now owned or hereafter acquired by me, including,
without limitation, the following specifically enumerated powers:
a. Property Matters: To acquire, purchase, exchange and sell, or grant options to sell,
mortgage, pledge, lease, sell and convey real or personal property, tangible or intangible,
or interests therein, on such terms and conditions as my Agent shall deem proper, with
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full authority to sign, endorse, execute and deliver any sales agreement, deed, bill of sale
and all other instruments or documents pertaining to the sale of any of my real or
personal property; and to enter into bonds, contracts, mortgages and deeds connected
therewith;
b. Stock and bond transactions: To purchase, convey, assign, sell, exchange, surrender,
mortgage, pledge, lease, let, license, demise, remise, quitclaim, bargain, redeem, or
otherwise transfer any and all shares of stock, bonds, evidences of indebtedness or other
securities and other personal tangible and intangible or mixed property in any business,
association, corporation, partnership, or other legal entity, whether private or public, now
or hereafter belonging to me;
c. Banking and other financial institution transactions: To make, receive, sign, endorse,
execute, acknowledge, deliver and possess checks, drafts, bills of exchange, letters of
credit, notes, stock certificates, withdrawal receipts and deposit instruments relating to
accounts or deposits in, or certificates of deposit of banks, savings and loans, credit
unions, or other institutions or associations, execute or release such deeds of trust or other
security agreements as may be necessary or proper in the exercise of the rights and
powers herein granted;
d. Business operating transactions: To conduct, engage in, and otherwise transact the
affairs of any and all lawful business ventures of whatever nature or kind that I may now
or hereafter be involved in. To execute partnership agreements and amendments thereto;
to incorporate, reorganize, merge, consolidate, recapitalize, sell, liquidate or dissolve any
business; to elect or employ officers, directors and agents; to carry out the provisions of
any agreement for the sale of any business interest or the stock therein; and to exercise
voting rights with respect to stock, either in person or by proxy, and to exercise stock
options;
e. Management Powers: To maintain, repair, improve, invest, manage, insure, rent, lease,
and in any manner deal with any real or personal property, tangible or intangible, or any
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interest therein that I now own or may hereafter acquire in my name and for my benefit,
upon such terms and conditions as my Agent shall deem proper;
f. Power to Borrow: To borrow any sum or sums of money on such terms (including the
power to borrow against the cash surrender value of any life insurance policy issued on
my life), and with such security, whether real or personal property, as my Agent may
think fit, and for that purpose to execute all promissory notes, bonds, mortgages, deeds of
trust, security agreements, and other instruments which may be necessary or proper;
g. Tax matters: To prepare, to make elections, to execute and to file all tax, social security,
unemployment insurance, and informational returns required by the laws of the United
States, or of any state or subdivision thereof, or of any foreign government; to prepare, to
execute, and to file all other papers and instruments which the Agent shall think to be
desirable or necessary for safeguarding me against excess or illegal taxation or against
penalties imposed for claimed violation of any law or other governmental regulation; and
to pay, to compromise, or to contest or to apply for refunds in connection with any taxes
or assessments for which I am or may be liable;
h. Trust: To transfer, assign and convey any property or interest in property, the legal or
equitable title to which is in my name, to any trust of which I am the primary beneficiary
during my lifetime and under the terms of which I expressly have the power to amend or
revoke such trust, and to exercise any right of withdrawal of income and/or principal
which I may have pursuant to the terms and conditions of such trust, whether such trust
was created before or after the execution of this Power of Attorney;
i. Power to Change Beneficiaries on Any Insurance Policies: To change the beneficiaries
on any insurance policies on my life; provided, however, that neither such right and
power, nor any other rights and powers, shall be exercisable with respect to any policies
of life insurance which may at any time be owned by me on the life of my Agent herein
named.
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j. Legal affairs: To employ and compensate attorneys, accountants and other agents with
personal liability for neglect or wrongdoing of any of them selected with reasonable care.
To represent me before any administrative or judicial body in any proceeding;
k. Recovering Possession of Property: To eject, remove or relieve tenants or other persons
from, and recover possession of, any property, real, personal or mixed in which I now or
hereafter may have an interest.
l. Executing Government Vouchers: To execute vouchers in my behalf for any and all
allowances, compensation and reimbursements properly payable to me by the
Government of the United States or any agency or department thereof.
3. Revocation: This General Durable Power of Attorney may be voluntarily revoked by me by
written instrument signed by me and delivered to my Agent.
4. Nomination of Guardian or Conservator: In the event court proceedings are hereafter
commenced to appoint a guardian, conservator or other fiduciary to take charge of my
person, or to manage and conserve my property, I hereby nominate and appoint my Agent
above-named, as my guardian, conservator, or other fiduciary, to serve without bond unless
otherwise required by a court of competent jurisdiction.
5. Death: [Optional] [Comment: Choose this clause if you wish the agency to continue
even after your death] My death shall not revoke or terminate this agency as to my Agent or
any other person who, without actual knowledge of my death, acts in good faith under this
Power of Attorney. Any action so taken, unless otherwise invalid or unenforceable, shall be
binding upon me and my heirs, devises, and personal representatives.
6. Revocation: This General Durable Power of Attorney may be voluntarily revoked by me by
written instrument signed by me and delivered to my Agent.
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7. Substitute Agent: If _____________________ [Instruction: Insert the name of the agent]
ceases to act as my Agent due to death, incapacity, or resignation, I appoint
___________________________ [Instruction: Insert the name of the substitute agent], to
serve as my substitute Agent.
8. Interpretation and Governing Law: This instrument is to be construed and interpreted
according to the law of New Mexico. It was executed in the state of New Mexico and is
intended to be valid in all jurisdictions of the United States of America and all foreign
nations.
9. Special Instructions: [Optional] [Instruction: Insert the special instructions limiting or
extending the powers granted to your agent]
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
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TO INDUCE ANY THIRD PARTY TO ACT HEREUNDER, I HEREBY AGREE THAT
ANY THIRD PARTY RECEIVING A DULY EXECUTED COPY OR FACSIMILE OF
THIS INSTRUMENT MAY ACT HEREUNDER, AND THAT REVOCATION OR
TERMINATION HEREOF SHALL BE INEFFECTIVE AS TO SUCH THIRD PARTY
UNLESS AND UNTIL ACTUAL NOTICE OR KNOWLEDGE OF SUCH REVOCATION
OR TERMINATION SHALL HAVE BEEN RECEIVED BY SUCH THIRD PARTY, AND
I FOR MYSELF AND FOR MY HEIRS, EXECUTORS, LEGAL REPRESENTATIVES
AND ASSIGNS, HEREBY AGREE TO INDEMNIFY AND HOLD HARMLESS ANY
SUCH THIRD PARTY FROM AND AGAINST ANY AND ALL CLAIMS THAT MAY
ARISE AGAINST SUCH THIRD PARTY BY REASON OF SUCH THIRD PARTY
HAVING RELIED ON THE PROVISIONS OF THIS INSTRUMENT.
Signed this ____ [Month] ____ [Date], 20____
______________________________________
[Instruction: Insert the signature of principal]
______________________________________
______________________________________
[Instruction: Insert the Address of principal]
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ACKNOWLEDGEMENT
STATE OF NEW MEXICO
COUNTY OF ____________________
I, a Notary Public, hereby certify that _______________________________________ whose name is
signed to the foregoing instrument, and who is known to me, acknowledged before me on
this day that, being informed of the contents of the conveyance, he/she/ executed the same
voluntarily on the day the same bears date.
Given under my hand this _____________ day of _____________,. 20____.
____________________________________
Notary Public
Print Name __________________________
My commission expires:
___________________
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Note: Carefully read and follow the Instructions and Comments contained in this document for
your customization to suit your specific circumstances and requirements. You will want to
delete the Instructions and Comments from open bracket (“[“) to close bracket (“]”) after
reading and following them. You (or your attorney) may want to make additional modifications
to meet your specific needs and the laws of your state
◊Where within this document you see this symbol: ◊ or an instruction states “Insert any number you choose◊,”
or something similar, or there is a blank for the user to complete, please note that although Docstoc believes the
information or number may be any that the user chooses, and that there is no law governing what the
information or number should be, you might want to verify this, including by consulting with your own attorney
practicing in your state, and be reasonable.
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(http://www.docstoc.com/popterm.aspx?page_id=15), as well as our disclaimer that Legal information is not
legal advice, and the important content available here: Read More
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