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.
In Santa Clara, California, the General Durable Power of Attorney for Property and Finances, also referred to as Financial Power of Attorney Effective upon Disability, is a legal document that grants someone the authority to make financial decisions and manage property on behalf of another individual, known as the principal. This power of attorney (POA) is designed to take effect when the principal becomes incapacitated or disabled and is unable to handle their own financial affairs. A General Durable Power of Attorney for Property and Finances in Santa Clara covers various aspects of the principal's financial matters, allowing the appointed agent or attorney-in-fact to handle tasks such as: 1. Financial Management: The agent can manage the principal's bank accounts, investments, and other financial assets. They have the power to deposit and withdraw funds, pay bills, and oversee financial transactions. 2. Real Estate: The agent can buy, sell, or rent the principal's real estate properties and handle mortgage payments, property taxes, and maintenance. 3. Personal Property Management: The appointed agent has the authority to manage the principal's personal assets, including valuable possessions, vehicles, and other properties. 4. Tax Filings: The agent may prepare and file tax returns on behalf of the principal, ensuring compliance with tax laws and regulations. 5. Insurance and Benefits: The agent can handle the principal's insurance policies, including application, claims, and payments, as well as manage any government benefits the principal may be entitled to. 6. Legal and Court Matters: The agent can represent the principal in legal proceedings related to their property or finances, including signing legal documents and contracts on their behalf. It's important to note that Santa Clara, California, recognizes two types of General Durable Power of Attorney for Property and Finances, each with specific characteristics: 1. Springing Power of Attorney: This type of POA becomes effective only when a specific condition, such as the principal's disability or incapacitation, is met. It requires a written determination by a qualified healthcare professional regarding the principal's incapacity. 2. Immediate Power of Attorney: An immediate POA is in effect as soon as it is signed and notarized by the principal, enabling the appointed agent to act on their behalf even if the principal is still capable of handling their affairs. This type of POA can be useful in situations where the principal desires assistance or representation without being incapacitated. Santa Clara residents considering a General Durable Power of Attorney for Property and Finances or Financial Effective upon Disability should consult with an attorney or legal professional familiar with California law to ensure the document's validity and appropriate customization based on their unique circumstances.In Santa Clara, California, the General Durable Power of Attorney for Property and Finances, also referred to as Financial Power of Attorney Effective upon Disability, is a legal document that grants someone the authority to make financial decisions and manage property on behalf of another individual, known as the principal. This power of attorney (POA) is designed to take effect when the principal becomes incapacitated or disabled and is unable to handle their own financial affairs. A General Durable Power of Attorney for Property and Finances in Santa Clara covers various aspects of the principal's financial matters, allowing the appointed agent or attorney-in-fact to handle tasks such as: 1. Financial Management: The agent can manage the principal's bank accounts, investments, and other financial assets. They have the power to deposit and withdraw funds, pay bills, and oversee financial transactions. 2. Real Estate: The agent can buy, sell, or rent the principal's real estate properties and handle mortgage payments, property taxes, and maintenance. 3. Personal Property Management: The appointed agent has the authority to manage the principal's personal assets, including valuable possessions, vehicles, and other properties. 4. Tax Filings: The agent may prepare and file tax returns on behalf of the principal, ensuring compliance with tax laws and regulations. 5. Insurance and Benefits: The agent can handle the principal's insurance policies, including application, claims, and payments, as well as manage any government benefits the principal may be entitled to. 6. Legal and Court Matters: The agent can represent the principal in legal proceedings related to their property or finances, including signing legal documents and contracts on their behalf. It's important to note that Santa Clara, California, recognizes two types of General Durable Power of Attorney for Property and Finances, each with specific characteristics: 1. Springing Power of Attorney: This type of POA becomes effective only when a specific condition, such as the principal's disability or incapacitation, is met. It requires a written determination by a qualified healthcare professional regarding the principal's incapacity. 2. Immediate Power of Attorney: An immediate POA is in effect as soon as it is signed and notarized by the principal, enabling the appointed agent to act on their behalf even if the principal is still capable of handling their affairs. This type of POA can be useful in situations where the principal desires assistance or representation without being incapacitated. Santa Clara residents considering a General Durable Power of Attorney for Property and Finances or Financial Effective upon Disability should consult with an attorney or legal professional familiar with California law to ensure the document's validity and appropriate customization based on their unique circumstances.
