Durable Power of Attorney for Virginia

DURABLE POWER OF ATTORNEY



1. APPOINTMENT OF MY AGENT. I, _____________ (hereinafter referred to as "Principal"), hereby execute this Power of Attorney appointing the following named individual as my "Agent" (also known as Attorney-in-Fact):


Name: _____________

Address: _____________

_____________, _____________ _____________

Phone Number: _____________


2. EFFECTIVENESS. The authority of my Agent, when effective, shall not terminate or be void or voidable if I am or become disabled or in the event of later uncertainty as to whether I am dead or alive. This Power of Attorney shall be effective starting when I become incapacitated.

3. AGENT AS FIDUCIARY. I give my Agent the powers specified in this Power of Attorney with the understanding that they will be exercised for my benefit, on my behalf, and solely in a fiduciary capacity.

4. GENERAL AUTHORITY TO ACT. Except where specifically limited herein, I hereby grant my Agent, including any Successors or Co-Agents, the general authority, according to Section 201(c) and the relevant portions of Section 204 through 217 of the Uniform Power of Attorney Act (the entire Uniform Power of Attorney Act incorporated herein by reference - available at http://www.uniformlaws.org), to act on my behalf in the following subjects: (INITIAL ALL POWERS THAT APPLY)


5. SPECIFIC ACTS AUTHORIZED. In addition to the general powers authorized above, I specifically authorize my Agent to perform the following acts: (INITIAL ALL POWERS THAT APPLY)


6. AMPLIFYING POWERS

a. Compensation. My Agent will be entitled to reasonable compensation for services rendered as Agent under this Power of Attorney. Factors that should be considered in determining the amount of compensation are:

i. The time expended by my Agent

ii. The value of the property over which my Agent exercises control and management

iii. The complexity of the transactions entered into by my Agent

My Agent may pay the compensation from my assets once each week, and must keep records of the services performed, the time spent in performing them, and the date and amount of each payment.

b. Reimbursement for Costs and Expenses. My Agent will be entitled to reimbursement from my property for expenditures properly made in performing the services conferred by me in this instrument. My Agent must keep records of any such expenditures and reimbursements.

c. Reliance by Third Parties. To induce third parties to rely on the provisions of this instrument, I, for myself and on behalf of my heirs, successors, and assigns, hereby waive any privilege that may attach to information requested by my Agent in the exercise of any of the powers described in this instrument. Moreover, on behalf of my heirs, successors, and assigns, I hereby agree to hold harmless any third party who acts in reliance on this power for damages or liability incurred as a result of that reliance.

d. Ratification. I ratify and confirm all that my Agent does or causes to be done under the authority granted in this instrument. All contracts, promissory notes, checks, or other bills of exchange, drafts, other obligations, stock powers, instruments, and other documents signed, endorsed, drawn, accepted, made, executed, or delivered by my Agent will bind me, my estate, my heirs, successors, and assigns.

e. Exculpation of Agent. My Agent will not be liable to me or any of my successors in interest for any action taken or not taken in good faith, but will be liable for any willful misconduct or gross negligence.

f. Revocation and Amendment. I revoke any and all durable powers of attorney that I have executed before executing this Power of Attorney. I retain the right to revoke or amend this Power of Attorney and to substitute other agents in place of my Agent. Amendments to this Power of Attorney must be made in writing by me personally. They must be attached to the original of this document and, if the original is recorded, must be recorded in the same county or counties as the original, although failure to record any amendment will not alter its effect.

7. GENERAL PROVISIONS

a. Signature of Agent. My Agent must use the following form when signing on my behalf pursuant to this Power of Attorney: [Principal] by [Agent], his or her Agent.

b. Severability. If any of the provisions of this instrument are found to be invalid for any reason, that invalidity will not affect any of the other provisions of this power, and all invalid provisions will be wholly disregarded.

c. Governing Law. This instrument is executed according to the provisions of the Uniform Power of Attorney Act, and all questions relating to the validity, interpretation, and administration of this power will be determined in accordance with that Act.

8. RELIANCE ON THIS POWER OF ATTORNEY. Any person, including my Agent, may act in reliance upon the validity of this Power of Attorney or a copy of it unless that person knows it has terminated or is no longer valid.


NOTICE TO PERSON EXECUTING DURABLE POWER OF ATTORNEY

A Durable Power of Attorney is an important legal document. By signing the Durable Power of Attorney, you are authorizing another person to act for you, the Principal. Before you sign this Durable Power of Attorney, you should know these important facts:


Your Agent (attorney-in-fact) has no duty to act unless you and your Agent agree otherwise in writing.


This Power of Attorney does not authorize the Agent to make healthcare decisions for you.


This form currently only includes one Agent. If you wish to name one or more Co-Agents, you may name them in the Special Instructions. Co-Agents are not required to act together unless you include that requirement in the Special Instructions.


This document may give your Agent the powers to manage, dispose of, sell, and convey your real and personal property, and to use your property as security if your Agent borrows money on your behalf. This document does not give your Agent the power to accept or receive any of your property, in trust or otherwise, as a gift, unless you specifically authorize the Agent to accept or receive a gift.


Your Agent will have the right to receive reasonable payment for services provided under this Durable Power of Attorney unless you provide otherwise in this Power of Attorney.


The powers you give your Agent will continue to exist for your entire lifetime, unless you state that the Durable Power of Attorney will last for a shorter period of time or unless you otherwise terminate the Durable Power of Attorney. The powers you give your Agent in this Durable Power of Attorney will continue to exist even if you can no longer make your own decisions respecting the management of your property.


You can amend or change this Durable Power of Attorney only by executing a new Durable Power of Attorney or by executing an amendment through the same formalities as an original. You have the right to revoke or terminate this Durable Power of Attorney at any time, so long as you are competent.


This Durable Power of Attorney must be dated and must be acknowledged before a notary public or signed by two witnesses. If it is signed by two witnesses, they must witness either (1) the signing of the Power of Attorney or (2) the Principal's signing or acknowledgment of his or her signature. A Durable Power of Attorney that may affect real property should be acknowledged before a notary public so that it may easily be recorded.


You should read this Durable Power of Attorney carefully. When effective, this Durable Power of Attorney may give your Agent the right to deal with property that you now have or might acquire in the future. The Durable Power of Attorney is important to you. If you do not understand the Durable Power of Attorney, or any provision of it, then you should obtain the assistance of an attorney or other qualified person.


This Power of Attorney becomes effective immediately unless you state otherwise in the Power of Attorney.


If you have questions about the Power of Attorney or the authority you are granting to your Agent, you should seek legal advice before signing this form.


This Durable Power of Attorney is executed by me on _____________, in _____________.


Name: _____________

Signature: _________________________________

SSN: ____________________________

Address: _____________

_____________, _____________ _____________

Phone Number(s): _____________


NOTICE TO PERSON ACCEPTING THE APPOINTMENT AS ATTORNEY-IN-FACT



By acting or agreeing to act as Agent (also known as Attorney-in-Fact) under this Power of Attorney you assume the fiduciary and other legal responsibilities of an agent. These responsibilities include the following:


1. The legal duty to act solely in the interest of Principal and to avoid conflicts of interest


2. The legal duty to keep Principal's property separate and distinct from any other property owned or controlled by you


You may not transfer Principal's property to yourself without full and adequate consideration or accept a gift of Principal's property unless this Power of Attorney specifically authorizes you to transfer property to yourself or accept a gift of Principal's property. If you transfer Principal's property to yourself without specific authorization in the Power of Attorney, you may be prosecuted for fraud and/or embezzlement. If Principal is 65 years of age or older at the time that the property is transferred to you without authority, you may also be prosecuted for elder abuse. In addition to criminal prosecution, you may also be sued in civil court.


You must stop acting on behalf of Principal if you learn of any event that terminates this Power of Attorney or your authority under this Power of Attorney; for example, the death of Principal; Principal's revocation of this Power of Attorney or your authority; or, if you are married to Principal, a legal action is filed with a court to end your marriage, or for your legal separation, unless the Special Instructions in this Power of Attorney state that such an action will not terminate your authority.


If there is anything about this document or your duties that you do not understand, you should seek legal advice.


I have read the foregoing notice and I understand the legal and fiduciary duties that I assume by acting or agreeing to act as Agent (Attorney-in-Fact) under the terms of this Power of Attorney.


ACCEPTANCE BY AGENT


Name: _____________

Signature: _________________________________

Dated: ___________________________


NOTARY ACKNOWLEDGMENT



State of ____________________________

SS.

County of ____________________________


On _____________, before me, _____________________________, personally appeared _____________ and _____________ who proved to me on the basis of satisfactory evidence to be the persons whose names are subscribed to within this DURABLE POWER OF ATTORNEY, and acknowledged to me that they executed the same in authorized capacities, and that by their signatures on the instrument the persons, or the entity upon behalf of which the persons acted, executed the instrument.


I certify under PENALTY OF PERJURY that the foregoing paragraph is true and correct.


WITNESS my hand and official seal.


___________________________________

(Print name)

___________________________________

(Signature)

NOTARY PUBLIC

My Commission Expires: ________________________ [Affix seal]


STATEMENT OF WITNESS



I declare under penalty of perjury 1) that the individual who signed or acknowledged this Durable Power of Attorney is personally known to me, or that the individual's identity was proven to me by convincing evidence; 2) that the individual signed or acknowledged this Durable Power of Attorney in my presence; 3) that the individual appears to be of sound mind and under no duress, fraud, or undue influence; and 4) that I am not a person appointed as Agent by this Durable Power of Attorney.


FIRST WITNESS

Name:_________________________________

Signature:_________________________________

Date:____________________


SECOND WITNESS

Name:_________________________________

Signature:_________________________________

Date: ____________________

Instructions for Your Durable Power of Attorney



In our durable power of attorney, you the "Principal," will specify what powers your "Agent" (a.k.a. your attorney-in-fact) has. You can give your Agent decision-making authority over almost any of your affairs, and our durable power of attorney form gives you complete flexibility in tailoring the document to your specific needs.


Note, however, that some powers cannot legally be delegated to your Agent, including the powers to make, amend, or revoke your will; to change insurance beneficiaries; and to vote in a public election.


A general or plain power of attorney terminates when you die or become incapacitated. However, a durable power of attorney allows your Agent to act for you even when you become incapacitated. "Incapacitated" means that you are no longer able to understand and evaluate information in order to make competent decisions regarding your affairs, usually due to physical or mental impairment. A durable power of attorney continues until you die or revoke your Agent's powers.


An Agent can be a friend, family member, business partner, or anyone else you trust. Your Agent will also be entitled to receive reasonable compensation for the work they perform unless you specify otherwise.


How to Execute your Document


To make your durable power of attorney legally binding, you need to sign the document in the presence of the appropriate witnesses. Use the list below to locate your state's witnessing requirements. Because financial institutions and other entities often require it to be notarized, we recommend that you use a notary even if your state does not require it. Make sure any witnesses you use are not appointed as agents in the instrument, related to the Principal by blood, or beneficiaries of the Principal's estate.


You do not have to record a durable power of attorney to make it legally binding. However, if you are giving your Agent the power to handle real estate transactions for you and it is likely your Agent will use this power on your behalf in the future, then it is best to go ahead and record the document for a small fee (usually $20-$30).


Remember, you can revoke or amend your durable power of attorney at any time after it goes into effect.


Witnessing Requirements


Some states only require the signatures of two witnesses OR a notary. However, it is best (and we highly recommend) to have two disinterested witnesses AND a notary sign your power of attorney. Refer to your state's specific witnessing requirements below:


Alabama - at least two witnesses must sign


Alaska - at least two witnesses or a notary must sign


Arizona - at least two witnesses or a notary must sign


Arkansas - at least two witnesses or a notary must sign


California - at least two witnesses or a notary must sign


Colorado - at least two witnesses must sign


Connecticut - at least two witnesses must sign


Delaware - at least two witnesses must sign


District of Columbia - at least two witnesses must sign


Florida - two witnesses AND a notary must sign


Georgia - at least two witnesses must sign


Hawaii - at least two witnesses or a notary must sign


Idaho - at least two witnesses or a notary must sign


Illinois - at least two witnesses or a notary must sign


Indiana - at least two witnesses must sign


Iowa - at least two witnesses or a notary must sign


Kansas - at least two witnesses or a notary must sign


Kentucky - at least two witnesses or a notary must sign


Louisiana - at least two witnesses must sign


Maine - at least two witnesses must sign


Maryland - at least two witnesses must sign


Massachusetts - at least two witnesses must sign


Michigan - at least two witnesses must sign


Minnesota - at least two witnesses or a notary must sign


Mississippi - at least two witnesses or a notary must sign


Missouri - at least two witnesses must sign


Montana - at least two witnesses must sign


Nebraska - at least two witnesses or a notary must sign


Nevada - at least two witnesses must sign


New Hampshire - at least two witnesses or a notary must sign


New Jersey - at least two witnesses or a notary must sign


New Mexico - at least a notary must sign


New York - at least two witnesses must sign


North Carolina - two witnesses AND a notary must sign


North Dakota - at least two witnesses or a notary must sign


Ohio - at least two witnesses or a notary must sign


Oklahoma - at least two witnesses must sign


Oregon - at least two witnesses must sign


Pennsylvania - at least two witnesses must sign


Puerto Rico - at least two witnesses or a notary must sign


Rhode Island - at least two witnesses or a notary must sign


South Carolina - at least two witnesses must sign


South Dakota - at least two witnesses must sign


Tennessee - at least two witnesses or a notary must sign


Texas - at least two witnesses or a notary must sign


Utah - at least one witness must sign


Vermont - at least two witnesses must sign


Virginia - at least two witnesses must sign


Washington - at least two witnesses must sign


West Virginia - at least two witnesses must sign


Wisconsin - at least two witnesses must sign


Wyoming - at least two witnesses or a notary must sign


Individual Personal Affairs

Durable Power of Attorney

A durable power of attorney is used to give another person the power to make important decisions on your behalf, including decisions regarding your financial, real estate, and business affairs. LegalNature's durable power of attorney is one of the most comprehensive power of attorney forms available, helping ensure that the important matters in your life will be handled how you want.

LegalNature's advanced form-building technology will guide you every step of the way, providing instruction where needed and giving you confidence in your document. Our forms are highly customizable so that you can easily adapt them to your needs.

Start your durable power of attorney now to see for yourself.

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This guide provides an explanation of the key terms and considerations when creating a durable power of attorney. Here we elaborate on the step-by-step guidance we provide you when answering our document questionnaire.

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Review the basic steps you will need to follow before and after completing a durable power of attorney. This includes communicating your wishes, how to sign and witness your agreement, when to make updates, and which related documents you should complete.

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