GENERAL POWER OF ATTORNEY
IMPORTANT INFORMATION FOR THE PRINCIPAL
This power of attorney or mandate authorizes another person (your agent or mandatary) to make decisions concerning your property for you (the principal). Your agent or mandatary 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.
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 not entitled to any compensation unless you state otherwise in this power of attorney. Your agent shall be entitled to reasonable expenses incurred in performing the acts required by you in your power of attorney.
This form provides for the designation of several agents. If your agent is unable or unwilling to act for you, your power of attorney will end unless you designate more than one agent or a successor agent. You may also name a second successor agent.
This power of attorney will be durable unless you state otherwise.
This power of attorney becomes effective immediately, unless you state otherwise.
The mandatary (agent) must always use the original notarized power of attorney. If they do not have one, the notary who notarized the power of attorney must make a written statement that a copy is the same as the original power of attorney.
If you have questions about the power of attorney or the authority you are granting to your agent, you should seek legal advice before you sign this document.
This Power of Attorney must be dated and acknowledged before a notary public or signed by two witnesses who are mentally competent. These two witnesses must be present at the principal's signing of the Power of Attorney. A Power of Attorney that gives powers to the agent over real property should be acknowledged before a notary public so that it can be recorded.
You should read this Power of Attorney carefully. This Power of Attorney will give your Agent the right to deal with property that you now have or might acquire in the future. 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.
DESIGNATION OF AGENTS
I, _________, with a permanent address at _________, telephone number _________, and email address _________, name the following person to serve as my mandatary ("Agent") to exercise the powers and discretions described below:
Name of Agent: _________
Agent's Address: _________
Agent's Telephone Number: _________
Agent's Email Address: _________
This power of Attorney shall be revoked and will cease to have any effect if I became incapacitated.
My Agent shall have full authority to act for me in managing and conducting all of my personal and financial affairs. My Agent shall also have full power to defend my rights and acquire all that I may need in the future.
My Agent shall have power to:
(INITIAL each subject you want to include in the agent's general authority.)
________ - Continue, modify, open, and terminate any account or other banking arrangement made by me or on my behalf; establish, modify, and terminate any account or other banking arrangement with a bank, trust company, savings and loan association, credit union, thrift company, brokerage firm, or other financial institution selected by the agent.
________ - Operate and do business with any financial institution or bank in relation to my accounts, including making deposits and withdrawals, negotiating or endorsing any checks, or other instruments, with respect to such accounts. The Agent shall also have authority to obtain bank statements, drafts, and certificates or execute vouchers in my name, firm, corporation, or political entity.
________ - Make a deposit, negotiate, sell, or transfer any note, security, or draft of the United States of America, including U.S. Treasury Securities.
________ - Enter a safe deposit box or vault and withdraw or add to the contents
________ - Apply and contract for and receive a loan, acknowledge or cancel a debt, or give surety.
________ - Borrow from, sell assets to, invest or reinvest on, or purchase assets or property owned by me, that may or may not include income-producing assets and properties.
________ - Procure new, different, and additional contracts of insurance and annuities, including life insurance, and continue to pay existing annuities to either me or another person.
________ - Claim, collect or settle any debt owed to me, whether such claim or debt is made against me or asserted on my behalf against any third party.
________ - Perform binding contracts in my stead and for my benefit.
________ - Buy, sell, and exchange all rights in stocks and bonds, exercise voting rights with respect to such stocks and bonds, whether in person or by proxy, enter into voting trusts, and consent to limitations on the right to vote.
________ - Sell, convey, mortgage, or perform any action with respect to my property, including the right to encumber any homestead that I own or may own or may acquire in the future.
________ - Prepare, sign, file, and maintain documents for my benefit under any governmental program or military service, including authorization to.
________ - Prepare, sign, file, and maintain income and other tax returns with federal, state, and local governmental bodies.
________ - Procure information or obtain documents from any governmental body or agency and represent me in all tax-related matters, including the power to settle any claim with such governmental body or agency.
If my Agent and the designated Gift Agent are not the same person, then my Agent's authority shall include the power to disclaim assets that may pass to my Gift Agent. Moreover, the Gift Agent may also disclaim assets that may pass to my Agent.
This is a General Power of Attorney. The listing of specific powers in this General Power of Attorney shall not constitute a limit or restriction of the general powers granted in this Power of Attorney.
The powers and authority that I grant to my Agent under this power of attorney shall not extend to the following matters:
- My income may not be taxable to my Agent.
- My Agent may not subject my assets to a general power of appointment.
- My Agent may not have any ownership concerning any life insurance policies that I may own.
My Agent shall not be liable for an act, error of judgment, or default while undertaking the responsibilities delegated under this power of attorney if my Agent exercises care, competence, and diligence. However, my Agent will be liable to me and my successors if my Agent acts outside the authority granted or violates the duties imposed by the law and this power of attorney. My Agent's liability shall extend to the amount required to restore the value of my property and to the reimbursement of my interest or that of my successors, attorney's fees, and costs.
Except as otherwise provided in this power of attorney, an agent that does not participate in or conceal a breach of fiduciary duty committed by another agent, including a predecessor agent or a Successor Agent, is not liable for the actions of the other agent.
My Agent is not entitled to compensation for any services rendered as my Agent.
My Agent is not entitled to reimbursement of reasonable expenses incurred on my behalf while undertaking the responsibilities delegated to the Agent under this power of attorney.
My Agent is required to disclose receipts, disbursements, or transactions when requested by me, a fiduciary acting for me, or a governmental agency with authority to protect my welfare. If I am deceased, my representative or successor in interest may request my Agent to account.
This Power of Attorney shall be governed by the laws of the state of Louisiana. This notwithstanding, I this Power of Attorney to be valid in all jurisdictions and admissible to recordation, even If I become a resident of a different jurisdiction, or obtain property or any other property interest in another jurisdiction.
This Power of Attorney takes effect immediately and shall continue to have effect until my death or as long as I am incapable to handle my financial and personal affairs.
Dated ____________________, ______, at _________, Louisiana.
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Witness Signature
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Witness Signature
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STATE OF LOUISIANA,
PARISH OF _________, ss:
On this _____ day of ____________________, ______, before me personally appeared _________, to me known to be the person described in and who executed the foregoing instrument, and acknowledged that he/she executed same as his/her free act and deed.
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Notary Public
My commission expires _____________
___________________________________
_________
_________
_________
___________________________________
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Notice to Person Accepting the Appointment as Attorney-in-Fact
By acting or agreeing to act as the Agent (attorney-in-fact) under this Power of Attorney, you assume the fiduciary and other legal responsibilities of an Agent. These responsibilities include:
1. The legal duty to act solely in the interest of the principal; act loyally, with care, competence, and diligence; and avoid conflicts of interest.
2. The legal duty to identify yourself as Agent whenever you act on behalf of the principal by printing the name of the principal and signing your name followed by the words; "as Agent".
3. The legal duty to keep a record of all transactions made on behalf of the principal, including the responsibility to produce receipts, ledgers, and other records of all deposits, disbursements, or other transactions involving the principal's assets or indebtedness.
4. To cooperate with the principal's health-care Agent, should the principal appoint such an Agent, in making decisions in accordance with the principal's desires or in the best interests if his or her wishes are not known.
5. The legal duty to preserve the principal's estate plan, if one exists.
6. The legal duty to keep the principal's property separate and distinct from any other property owned or controlled by you.
7. The legal duty to terminate actions as an Agent (Attorney-in-Fact) under this Power of Attorney upon the occurrence of any of the following:
a. Principal's death;
b. Revocation of the Power of Attorney of the principal;
c. The arrival of any date stated in the Power of Attorney, which states the termination of the Power of Attorney, if any; or
d. No additional action is required under the Power of Attorney.
8. If you are the spouse of the principal, the Power of Attorney terminates upon legal separation or dissolution of the marriage.
9. You may be held responsible and liable for any intentional actions which violate or abuse your authority under this Power of Attorney as provided by the state and federal laws governing this Power of Attorney.
10. You have the right to seek legal advice if you do not understand your duties as an Agent or any provisions in the 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:
_________________________________
_________
Under LA Civ. Code Art. 3001, you are bound to fulfill your above-designated duties with prudence and diligence. You are responsible for the loss that the principal sustains as a result of your failure to perform. If you act outside the authority granted, you may be liable for any damages caused by your violation.