Power Of Attorney Template
- .docx (0.01 MB)
Power of attorney is a letter of authority to act on behalf of another person (the principal) in legal or financial matters. Power of attorney (PoA) can be given to an agent either over specific acts (special power of attorney) or in general. Power of attorney is not a contract. It is an expression of will by the principal for the agent to act on his/her behalf. The signature of a power of attorney empowers the agent to act and notifies third parties of the principal’s will.
How to write a Power of attorney letter?
Follow these steps when you make a Power of Attorney (POA):
1. Draft a list of special powers; list each special power you want to assign. Explicitly state the transactions, accounts, or property that your agent has authority over. For example, it allows your agent to handle all of your financial transactions or real estate.
2. Decide what powers are springing; it's meaning that it is not triggered until an event or another condition is satisfied. An agent cannot legally act on your behalf regarding a springing power until that event or condition occurs.
3. Note the expiration date; If you want your POA to only last for a certain period of time, make sure you explicitly write that in your document.
4. Pick an agent and a successor agent; Your agent should be someone you trust, whether it be a close family member, friend, or professional. It is also a good idea to assign a successor agent in the event the original agent dies or is otherwise no longer able to handle your affairs.
5. Compile the information into one document; Use clear and unambiguous language to outline the details of each special power, which includes your full name, the full names of your agent and successor agent, and the date you created the document, etc.
After downloading this sample template and filling in the blanks, you can easily customize the style, typography, details, and appearance of your Power of attorney template. If this is not the right document for you, then certainly take a look at the other letters that Bizzlibrary.com has to offer. We have many contracts and files ranging from agreements, cover letters, etc
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