This General Durable Power of Attorney for Property and Finances Effective upon Disability form is a general, durable power of attorney which is effective ONLY upon the principal's disability, incompetency or incapacity. You can use this form to appoint an attorney-in-fact (agent) to make decisions regarding property, financial, management, banking, business and other matters for you. The powers granted to an Agent in this Power of Attorney are very broad, but do NOT provide for health care services.
Dallas Texas General Durable Power of Attorney for Property and Finances, or Financial Effective upon Disability, is a legal document that grants a designated person, known as the agent or attorney-in-fact, the authority to make financial and property-related decisions on behalf of an individual, referred to as the principal. This power of attorney remains effective even if the principal becomes incapacitated or unable to make decisions independently. The Dallas Texas General Durable Power of Attorney for Property and Finances allows the agent to handle various financial matters, such as managing bank accounts, investments, and real estate transactions. It empowers the agent to pay bills, collect income, file taxes, and make decisions relating to personal and business assets. By granting this power of attorney, the principal ensures that their financial affairs will be managed smoothly and efficiently in the event of their incapacity. The agent is legally bound to act in the best interests of the principal, and their authority can be limited or expanded based on the principal's preferences. Different types of Dallas Texas General Durable Power of Attorney for Property and Finances or Financial Effective upon Disability include: 1. Limited Durability Power of Attorney: This type of power of attorney grants the agent with specific powers that are limited in scope and duration. The agent's authority may be restricted to handling a particular financial matter or a specific timeframe. 2. Springing Power of Attorney: In this type of power of attorney, the agent's authority only becomes effective upon the occurrence of a specific event or condition, usually the principal's incapacitation or disability. It offers an added layer of protection as it ensures that the agent can only act when necessary. 3. Statutory Power of Attorney: This is a standardized power of attorney form provided by the state of Texas. It outlines a set of powers and duties that the agent can exercise on behalf of the principal. However, the principal can customize and add additional provisions to meet their specific needs. It is essential to consult an attorney specializing in estate planning and power of attorney laws in Dallas, Texas, to ensure the power of attorney document complies with all legal requirements and aligns with the principal's intentions.Dallas Texas General Durable Power of Attorney for Property and Finances, or Financial Effective upon Disability, is a legal document that grants a designated person, known as the agent or attorney-in-fact, the authority to make financial and property-related decisions on behalf of an individual, referred to as the principal. This power of attorney remains effective even if the principal becomes incapacitated or unable to make decisions independently. The Dallas Texas General Durable Power of Attorney for Property and Finances allows the agent to handle various financial matters, such as managing bank accounts, investments, and real estate transactions. It empowers the agent to pay bills, collect income, file taxes, and make decisions relating to personal and business assets. By granting this power of attorney, the principal ensures that their financial affairs will be managed smoothly and efficiently in the event of their incapacity. The agent is legally bound to act in the best interests of the principal, and their authority can be limited or expanded based on the principal's preferences. Different types of Dallas Texas General Durable Power of Attorney for Property and Finances or Financial Effective upon Disability include: 1. Limited Durability Power of Attorney: This type of power of attorney grants the agent with specific powers that are limited in scope and duration. The agent's authority may be restricted to handling a particular financial matter or a specific timeframe. 2. Springing Power of Attorney: In this type of power of attorney, the agent's authority only becomes effective upon the occurrence of a specific event or condition, usually the principal's incapacitation or disability. It offers an added layer of protection as it ensures that the agent can only act when necessary. 3. Statutory Power of Attorney: This is a standardized power of attorney form provided by the state of Texas. It outlines a set of powers and duties that the agent can exercise on behalf of the principal. However, the principal can customize and add additional provisions to meet their specific needs. It is essential to consult an attorney specializing in estate planning and power of attorney laws in Dallas, Texas, to ensure the power of attorney document complies with all legal requirements and aligns with the principal's intentions.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
