Power of Attorney for Virginia

POWER OF ATTORNEY



IMPORTANT INFORMATION

This Power of Attorney authorizes another person (your Agent) to make decisions concerning your property for you (the Principal). Your Agent will be able to make decisions and act with respect to your property (including your money) whether or not you are able to act for yourself. The meaning of authority over subjects listed on this form is explained in the Uniform Power of Attorney Act.

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

You should select someone you trust to serve as your Agent. Unless you specify otherwise, generally the Agent's authority will continue until you die or revoke the Power of Attorney, or the Agent resigns or is unable to act for you.

Your Agent is entitled to reasonable compensation unless you state otherwise in the Special Instructions.

This form provides for designation of one Agent. If you wish to name more than one Agent, you may name a Co-Agent in the Special Instructions. Co-Agents are not required to act together unless you include that requirement in the Special Instructions.

If your Agent is unable or unwilling to act for you, your Power of Attorney will end unless you have named a Successor Agent. You may also name a second Successor Agent.

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

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.

  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.
  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. AMPLIFYING POWERS
    1. Compensation
      1. 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 as follows:
        1. The time expended by my Agent
        2. The value of the property over which my Agent exercises control and management
        3. The complexity of the transactions entered into by my Agent
      2. 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.
    2. 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.
    3. 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.
    4. 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.
    5. 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.
    6. Revocation and Amendment. 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 affect.
  5. GENERAL PROVISIONS
    1. 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.
    2. 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.
    3. Governing Law. This Agreement shall be governed, construed, and enforced in accordance with the laws of the State of _____________, without regard to its conflict of laws rules.
    4. 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.

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

Name: _____________

Signature: _________________________________

SSN: ____________________________

Address: _____________
_____________, _____________ _____________

Phone Number: _____________

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 Virginia
SS.
County of ____________________________

On _____________ (date), before me, _____________________________ (notary), personally appeared _____________ and _____________ who proved to me on the basis of satisfactory evidence to be the persons whose names are subscribed to within this 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: ____________________________     Commission Expires: _______________

Sign: ____________________________      [Affix seal]

            NOTARY PUBLIC

STATEMENT OF WITNESS



I declare under penalty of perjury 1) that the individual who signed or acknowledged this 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 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 Power of Attorney.

FIRST WITNESS

Name: _________________________________

Signature: _________________________     Dated: _________________

SECOND WITNESS

Name: _________________________________

Signature: _________________________     Dated: _________________

Instructions for Your Power of Attorney



In our 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 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 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 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 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, it is best to go ahead and record the document for a small fee (usually $20-$30).

Remember, you can revoke or amend your 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 recommended) 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

Power of Attorney

A power of attorney is used during those moments in life when it is necessary to get a trusted confidant to act on your behalf. Whether due to illness, traveling, military deployment or simple lack of time, a power of attorney can help you complete your financial, real estate or business affairs.


•Authorize specific or general powers

•Durable options for comprehensive estate planning

•Time specific for the duration you need


Let LegalNature's intuitive form builder guide you through each step of the process, giving you a power of attorney you can rely on.

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This guide provides an explanation of the key terms and considerations when creating a 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 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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