DURABLE POWER OF ATTORNEY
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 in this Power of Attorney is explained in the Uniform Power of Attorney Act (sections 1337.21 to 1337.64 of the Revised Code).
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 this Power of Attorney.
If you name more than one agent (coagents), they are not required to act together unless you include that requirement in this Power of Attorney.
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.
ACTIONS REQUIRING EXPRESS AUTHORITY
Unless expressly authorized and initialed by me in the Special Instructions, this Power of Attorney does not grant authority to my agent to do any of the following:
1. Create a trust.
2. Amend, revoke, or terminate an inter vivos trust, even if specific authority to do so is granted to the agent in the trust agreement.
3. Make a gift.
4. Create or change rights of survivorship.
5. Create or change a beneficiary designation.
6. Delegate authority granted under the Power of Attorney.
7. Waive the principal's right to be a beneficiary of a joint and survivor annuity, including a survivor benefit under a retirement plan.
8. Exercise fiduciary powers that the principal has authority to delegate.
CAUTION: Granting any of the above eight powers will give your agent the authority to take actions that could significantly reduce your property or change how your property is distributed at your death.
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.
I, _________, of _________, name the following person _________ of _________, as my Agent ("attorney-in-fact") to act for me with respect to the following subjects.
This Power of Attorney will not be terminated by my subsequent incapacity.
GRANT OF GENERAL AUTHORITY
I grant my Agent and any successor agent general authority to act for me with respect to the following subjects as defined in the Uniform Power of Attorney Act (sections 1337.21 to 1337.64 of the Revised Code):
(INITIAL each subject you want to include in the Agent's general authority. Document MUST be initialed.)
________ Real Property Transactions
________ Tangible Personal Property
________ Stocks and Bonds
________ Commodity and Options
________ Bank and Other Financial Institutions
________ Operation of Entity or Business
________ Insurance and Annuities
________ Estates, Trusts, and Other Beneficial Interests
________ Claims and Litigation
________ Personal and Family Maintenance
________ Benefits from Governmental Programs or Civil or Military Service
________ Retirement Plans
________ Taxes
________ Digital Assets
LIMITATION ON AGENT'S AUTHORITY
An Agent that is not my ancestor, spouse, or descendant MAY NOT use my property to benefit the Agent or a person to whom the agent owes an obligation of support unless I have included that authority in the Special Instructions.
RELIANCE OF THIS POWER OF ATTORNEY
Any person, including my agent, may rely upon the validity of this Power of Attorney or a copy of it unless that person knows it has terminated or is invalid.
My Agent is entitled to reasonable compensation for any services rendered as my Agent. My Agent is entitled to reimbursement of all reasonable expenses incurred in acting under this Power of Attorney.
This Power of Attorney takes effect immediately, and will not be affected by my disability or lack of mental competence, except as may be provided otherwise by an applicable state statute. This is a Durable Power of Attorney. This Power of Attorney will continue to be effective until my death. This Power of Attorney may be revoked by me at any time by providing written notice to my Agent.
Dated ____________________, ______, at _________, Ohio.
__________________________________
_________
This document was prepared by: _________, _________
State of Ohio,
_________ County, ss:
This document was acknowledged before me on ____________________ (Date), by _________ (Name of Principal).
_________________________________
Notary Public
My Commission expires _____________
Notice to Person Executing Power of Attorney
A Power of Attorney is an important legal document. By signing the Power of Attorney, you are authorizing another person to act for you, the principal. Before you sign this 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 document gives 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 unless you provide otherwise in this Power of Attorney.
Your Agent will have the right to receive reasonable payment for services provided under this 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 Power of Attorney will last for a shorter period of time or unless you otherwise terminate the Power of Attorney. The powers you give your Agent in this Power of Attorney will continue to exist even if you can no longer make your own decisions respecting the management of your property, unless you provide otherwise in this Power of Attorney.
You can change or correct the terms of this Power of Attorney only by executing a new Power of Attorney, or by executing an amendment through the same formalities as an original. You have the right to revoke or terminate this Power of Attorney at any time, so long as you are competent.
This Power of Attorney must be dated and must be acknowledged before a notary public or signed by two witnesses. If the Power of Attorney is signed by two witnesses, the witnesses must be mentally competent, and they must witness the principal's signing of the Power of Attorney or (2) the principal's signing or acknowledgment of his or her signature. A 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 Power of Attorney carefully. When effective, this Power of Attorney will give your Agent the right to deal with property that you now have or might acquire in the future. The Power of Attorney is important to you. If you do not understand the Power of Attorney or any provision of it, then you should obtain the assistance of an attorney or other qualified person.
Notice to Person Accepting the Appointment as Attorney-in-Fact
Agent's Duties
When you accept the authority granted under this power of attorney, a special legal relationship is created between you and the principal. This relationship imposes upon you legal duties that continue until you resign, your authority is terminated, or the power of attorney is terminated or revoked. You must:
(1) Do what you know the principal reasonably expects you to do with the principal's property or, if you do not know the principal's expectations, act in the principal's best interest;
(2) Act in good faith;
(3) Do nothing beyond the authority granted in this power of attorney;
(4) Attempt to preserve the principal's estate plan if you know the plan and preserving the plan is consistent with the principal's best interest;
(5) Disclose your identity as an agent whenever you act for the principal by writing or printing the name of the principal and signing your own name as "agent" in the following manner:
(Principal's Name) by (Your Signature) as Agent
Unless the Additional Provisions and Exclusions in this power of attorney state otherwise, you must also:
(1) Act loyally for the principal's benefit;
(2) Avoid conflicts that would impair your ability to act in the principal's best interest;
(3) Act with care, competence, and diligence;
(4) Keep a record of all receipts, disbursements, and transactions made on behalf of the principal;
(5) Cooperate with any person that has authority to make health care decisions for the principal to do what you know the principal reasonably expects, or if you do not know the principal's expectations, to act in the principal's best interest;
Termination of Agent's Authority
You must stop acting on behalf of the principal if you learn of any event that terminated or revoked this power of attorney or your authority under this power of attorney. Events that terminate a power of attorney or your authority to act under a power of attorney include:
(1) Death of the principal;
(2) The principal's revocation of the power of attorney or your revocation;
(3) The occurrence of a termination event stated in the power of attorney;
(4) The purpose of the power of attorney is fully accomplished;
(5) If you are married to the principal, 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.
LIABILITY OF AGENT
The meaning of the authority granted to you is defined in the Uniform Power of Attorney Act (sections 1337.21 to 1337.64 of the Revised Code). If you violate the Uniform Power of Attorney Act or act outside the authority granted, you may be liable for any damages caused by your violation.
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 the Agent (attorney-in-fact) under the terms of this Power of Attorney.
I have read the foregoing notice and I understand the legal and fiduciary duties that I assume by acting or agreeing to act as the Agent (attorney-in-fact) under the terms of this Power of Attorney.
Date:
Signed:
_________________________________
_________