Sample Durable Power of Attorney
A power of attorney is very easy to prepare and can be such an important document for your family. The following is a sample durable power of attorney. As you will see, this is a very broad power of attorney. When creating your own, you will need to decide what powers to give to the holder of the power of attorney.
DURABLE POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that I am hereby creating a Durable Power of Attorney.
That I [insert your name], of [insert city], [insert state], do hereby appoint [name the person you would like to appoint] as my attorney-in-fact for me and in my name, place and stead, and for my use and benefit to exercise all of the powers enumerated below, should I be incapacitated. If [person you named] is not reasonably available or is unable to act, then I appoint [name a successor person] as substitute or successor attorney-in-fact to serve with the same powers, in the event I am incapacitated.
Notwithstanding the powers contained in this Durable Power of Attorney, my attorney-in-fact may not:
Perform duties under a contract that requires the exercise of my personal services;
Make any affidavit as to my personal knowledge;
Vote in any public election on my behalf;
Execute or revoke any will or codicil on my behalf;
Create, amend, modify or revoke any documents or other disposition effective at my death or transfer assets to an existing trust created by me unless expressly authorized by this Power of Attorney; or
Exercise powers and authority granted to me as trustee or as a court-appointed fiduciary.
Except as otherwise provided herein, any attorney-in-fact named herein is a fiduciary who must observe the standards of care applicable to trustees. My attorney-in-fact is not liable to third parties for any act pursuant to this Durable Power of Attorney if the act was authorized at the time. If the exercise of power is improper, my attorney-in-fact is liable to interested persons for damage or loss resulting from a breach of fiduciary duty by my attorney-in-fact to the same extent as the trustee of an express trust. If my attorney-in-fact has accepted appointment either expressly in writing or by acting under this Power, my attorney-in-fact is not excused from liability for failure either to participate in the administration of assets subject to this Power or for failure to attempt to prevent a breach of fiduciary obligations hereunder.
My attorney-in-fact shall not be liable for any acts or decisions made by him in good faith and under the terms of this Durable Power of Attorney.
Any third party may rely upon the authority granted in my Durable Power of Attorney until the third party has received notice as provided herein.
Until a third party has received notice of revocation pursuant to the terms contained herein, partial or complete termination of this Durable Power of Attorney by adjudication of incapacity, suspension by initiation of proceedings to determine incapacity, my death, or the occurrence of an event referenced in this Durable Power of Attorney, the third party may act in reliance upon the authority granted in this Durable Power of Attorney.
A third party that has not received written notice hereunder may, but need not, require that my attorney-in-fact execute an affidavit stating that there has been no revocation, partial or complete termination, or suspension of this Durable Power of Attorney at the time the Power of Attorney is exercised. A written affidavit executed by my attorney-in-fact under this paragraph may, but need not, be in the form prescribed by F.S. §709.08, as amended.
Third parties who act in reliance upon the authority granted to my attorney-in-fact hereunder and in accordance with the instructions of the attorney-in-fact will be held harmless by me from any loss suffered or liability incurred as a result of actions taken prior to receipt of written notice of revocation, suspension, notice of a petition to determine incapacity, partial or complete termination, or my death. A person who acts in good faith upon any representation, direction, decision, or act of my attorney-in-fact is not liable to me or to my estate, beneficiaries, or joint owners for those acts.
A notice, including, but not limited to, a notice of revocation, partial or complete termination, suspension, or otherwise, is not effective until written notice is served upon my attorney-in-fact or any third party relying upon this Durable Power of Attorney.
Notice must be in writing and served on the person or entity to be bound by such notice.
If any third party unreasonably refuses to allow my attorney-in-fact to act pursuant to this Durable Power of Attorney or challenges the proper exercise of authority of my attorney-in-fact, the prevailing party in any judicial action under the applicable section will be entitled to damages, including reasonable attorney's fees.
By this instrument I hereby revoke any power of attorney, durable or otherwise, that I may have executed prior to the date of this Durable Power of Attorney.
I hereby confirm all acts of my attorney-in-fact pursuant to this Power.
Any act that is done under this Power between the revocation of this instrument and notice of that revocation to my attorney-in-fact shall be valid unless the person claiming the benefit of the act had notice of the revocation.
This Durable Power of Attorney shall not be affected by my subsequent incapacity and shall be exercisable from the date in which I have executed this Power of Attorney, notwithstanding my later disability or incapacity. All acts done by my attorney-in-fact pursuant to the powers conferred herein during any period of my disability or incapacity shall have the same effect, and inure to the benefit of and bind the principal or his or her heirs, devisees, and personal representatives as if the principal were competent and not disabled. The powers, rights, and duties conferred by this Power of Attorney upon my attorney-in-fact shall begin on the date set forth below and shall continue until my death or until it shall be revoked by me in writing.
This Durable Power of Attorney shall be nondelegable, except as to the authority to execute stock powers or similar documents on my behalf and delegate to a transfer agent or similar person the authority to register any stocks, bonds, or other securities either into or out of mine or a nominee's name, and shall be valid until such time as I shall die, revoke the Power, or shall be adjudged totally or partially incapacitated by a court of competent jurisdiction.
I may revoke this Power only by providing written notice to my attorney-in-fact. All acts of my attorney-in-fact taken or done without actual knowledge of (1) my death or (2) my revocation, are valid and effective, and are hereby ratified and confirmed.
This instrument has been executed in multiple counterpart originals. All such counterpart originals shall have equal force and effect.
IN WITNESS WHEREOF, I have set my hand and seal this ___ date.
Signed, sealed, and delivered in the presence of:
I HEREBY CERTIFY that on this day before me, an officer duly qualified to take acknowledgments, personally appeared [YOUR NAME], who is (Notary choose one) [______________] personally known to me, or [_______________] who has produced _____________ as identification, and to me known to be the person described in and who executed the foregoing instrument and acknowledged before me that he executed the same.
WITNESS my hand and official seal in the state and county aforesaid this [insert date].