The law now allows the Principal to select a person to appoint additional Successor Agents.Co-agents may be appointed by the Principal, who can act independently of each other unless the SDPOA states otherwise.However, granting legal validity to copies makes using a SDPOA much easier when the bank, broker or other financial institution is far from home. The new law does allow the Principal to limit or eliminate the use of copies by saying so in the original SDPOA. Under prior law, copies were often rejected in favor of the original or of a certified copy. A photocopy or computer scan of a SDPOA now has the same legal effect as the original document. Remember, the SDPOA is the document that allows you to name who you want to make your business and financial decisions in the event of incapacity or disability.Īs we always suggest, if your SDPOA is more than a year old, consider reviewing it to see if these changes are worth updating. What does that mean? This change greatly enhances the uses of a Statutory Durable Power of Attorney (“SDPOA”). In House Bill 19 Texas legislature passed a significant update to the Durable Power of Attorney Act, effective as of September 1, 2017. Now what? As with anything, the law is constantly changing and evolving. You met with an attorney, put pen to paper, and safely created a plan for your future. You finally quit procrastinating and were able to create your own Will Package. Vehicle Power of Attorney (Form VTR-271)– This form is for use when you wish to designate someone to handle your vehicle issues with the Texas Department of Motor Vehicles.So you finally did it. Tax Power of Attorney (Form 86-113)– This form is for use when you wish to designate a tax professional to handle your tax matters. However, it is suggested that the document is notarized. Signing Requirement: No statutory requirement. Make sure that your agents have a copy of this signed form so that there is no question that they are no longer to act under the original POA. Revocation of Power of Attorney – This form is used when you have an existing POA that you wish to terminate. This form may also be used to choose someone to make decisions on the repairs, leasing, and evictions of the premises. Real Estate Power of Attorney – Choose an agent to negotiate and handle the transaction of real property. It is suggested that the document be notarized. Signing Requirement: If only one (1) parent is able to sign, the power of attorney must be witnessed by two (2) subscribing witnesses. If the parent would only like to select someone else, in the chance they become incapacitated, they should fill in the Designation of Guardian for Incapacitation.ĭownload: Adobe PDF, MS Word, Open Document Minor (Child) Power of Attorney – For the use of a parent who would like to delegate the care of their son or daughter to the care of someone else. Signing Requirement ( § 166.154): Two (2) witnesses or a notary public. Medical Power of Attorney – This form gives you the ability to designate a loved one to handle your healthcare issues and decisions in the event you can no longer communicate your wishes. Limited Power of Attorney – This form of POA is less broad and can be tailored to meet your specific need to appoint a representative for a limited transaction. General (Financial) Power of Attorney – This is also a type that allows you to confer broad financial powers, however, unlike the durable form, it terminates automatically if you become incapacitated. Signing Requirement ( § 751.0021): Notary public. It will also continue to be in effect if you become incapacitated unless you revoke it before.ĭownload: Adobe PDF, MS Word, OpenDocument
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