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.
Round Rock Texas General Durable Power of Attorney for Property and Finances or Financial Effective upon Disability is a legal document that grants an individual, known as the agent or attorney-in-fact, the authority to act on behalf of another person (the principal) in matters relating to property and finances. This power of attorney is designed to remain effective even if the principal becomes disabled or incapacitated. A Round Rock Texas General Durable Power of Attorney for Property and Finances provides a wide range of powers to the agent to manage the principal's property, finances, and relevant affairs. The powers granted can include, but are not limited to: 1. Real Estate: The agent can buy, sell, mortgage, lease, or manage the principal's real estate properties in Round Rock, Texas. 2. Banking and Financial Accounts: The agent can access and manage the principal's bank accounts, investments, retirement plans, and other financial assets. 3. Bills and Utilities: The agent can pay bills, manage utilities, and handle other financial obligations on behalf of the principal. 4. Taxes: The agent can file tax returns, claim refunds, and represent the principal in tax-related matters. 5. Insurance: The agent can purchase, modify, or cancel insurance policies on behalf of the principal. 6. Legal and Professional Services: The agent can hire and manage attorneys, accountants, financial advisors, and other professionals as required. 7. Personal Property: The agent can manage and make decisions regarding the principal's personal property, such as automobiles, furniture, and household items. It is important to note that there can be different variations or specific purposes for a Round Rock Texas General Durable Power of Attorney for Property and Finances, such as: 1. Limited Power of Attorney: This grants the agent specific powers for a limited time frame or specific purpose, such as managing a real estate transaction on behalf of the principal. 2. Springing Power of Attorney: This power of attorney becomes effective only upon the occurrence of a specific event, such as the principal being declared mentally incapacitated by a physician. 3. Medical Power of Attorney: While not directly related to property and finances, this document appoints an agent to make medical decisions on behalf of the principal in case of incapacity. Consulting with an experienced attorney in Round Rock, Texas familiar with estate planning and power of attorney laws is highly recommended drafting a General Durable Power of Attorney for Property and Finances that meets individual needs and legal requirements.
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.
