![]() ![]() (1) you die or revoke the power of attorney Unless you specify otherwise, generally the agent's authority will continue until: You should select someone you trust to serve as your agent. IF YOU WANT YOUR AGENT TO HAVE THE AUTHORITY TO SIGN HOME EQUITY LOAN DOCUMENTS ON YOUR BEHALF, THIS POWER OF ATTORNEY MUST BE SIGNED BY YOU AT THE OFFICE OF THE LENDER, AN ATTORNEY AT LAW, OR A TITLE COMPANY. YOU MAY REVOKE THIS POWER OF ATTORNEY IF YOU LATER WISH TO DO SO. THIS DOCUMENT DOES NOT AUTHORIZE ANYONE TO MAKE MEDICAL AND OTHER HEALTH-CARE DECISIONS FOR YOU. ![]() IF YOU HAVE ANY QUESTIONS ABOUT THESE POWERS, OBTAIN COMPETENT LEGAL ADVICE. THEY ARE EXPLAINED IN THE DURABLE POWER OF ATTORNEY ACT, SUBTITLE P, TITLE 2, ESTATES CODE. NOTICE: THE POWERS GRANTED BY THIS DOCUMENT ARE BROAD AND SWEEPING. If you can’t draft one, here’s how to get one Participate in high-risk sporting activities.In general, you should consider drafting one, if you: Worse still, this individual might not be the one you would have ordinarily chosen if you had completed a Texas statutory durable power of attorney form. Without your appointing someone to take charge of your real estate, business transactions, financial and legal matters, your family will have to go through several court proceedings to get a conservator to represent your interests if you become incapcitated. It is also important for every senior or adult in danger of suffering a mental illness like dementia or Alzheimer’s. If you are often out of town and can’t attend to these delicate issues, you need to appoint someone to do so on your behalf. Who Needs a Texas Durable Power of Attorney?Įveryone in Texas needs to fill a durable power of attorney form if he/she needs someone to represent him/her on financial, legal and business transactions in your absence. Note that you can also revoke the powers of your agent as long as you are still mentally capable of making such decisions. Your agent becomes legally capable of representing you in the following transactions: Here are some things to note about a tx durable power of attorney. Most importantly, this agent must represent your best interests. Since you are trusting your assets into the hands of an agent, you must ensure it is someone you can trust capable of handling these financial and legal matters. Get started now Download template How Does the Durable Power of Attorney Work?Īs earlier highlighted, a durable power of attorney continues to be effective even after a medical professional or physician confirms the principal is no longer fit to make certain decisions on his/her own.Įssentially, a durable power of attorney is giving another individual to make certain transactions in your name. On the other hand, a general power of attorney is no longer effective when the principal is no longer deemed mentally capable of making certain decisions for him/herself. This power is ‘durable’ because it remains valid even after the physical or mental incapacitation of the principal. While the one who designates this role is called the principal, the one who assumes the role of representing the principal in the principal’s legal and financial matters is described as the agent or attorney-in-fact. Details of the buyer and seller (or the transferor and transferee)Ī Texas durable power of attorney as defined by the dictates of the Durable attorney act of the state says that an adult resident in Texas is allowed by the provisions of the law to delegate some decision-making to another individual or a group of individuals to handle certain decisions for himself/herself before and after his/her incapacitation.The following are some of the essential components that should be incorporated in the durable power of attorney form Texas template: In this article, we will be reviewing what this document is, why you need one and how to obtain one. If you reside in Texas, a durable power of attorney Texas would prove valuable to you. However, how many people also consider preparing a durable power of attorney document in case of incapacitation. Most individuals would usually take out time to prepare a will or trust as they advance in age, to dictate how they want their businesses, personal and financial matters to be handled after their demise. It is important to be proactive in all spheres of life, most importantly, when it comes to our assets and finances. ![]()
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