Limited Power of Attorney for Finances

Limited Power of Attorney for Finances

Use this simple form to give someone you trust authority to act on your behalf. You can use it for any specific, clearly defined task involving your finances.

Do not use this form if you live in Louisiana, New York, or Pennsylvania, or if you want to create a durable power of attorney.

You can save and edit the form before you buy--just create a Nolo.com account. It's easy, free, and there's no obligation to buy anything. If you purchase the form, you'll be able to print, send, or download it.

See below the form for a full product description.

 

Grant of Authority

I, , (principal) of , appoint  (attorney-in-fact or agent) to act in my place for the purposes of: .

I grant my attorney-in-fact full authority to act in any manner both proper and necessary to the exercise of the foregoing powers, and I ratify every act that my attorney-in-fact may lawfully perform in exercising those powers.

Effective Date and Term

This power of attorney takes effect on  and shall continue until I terminate it in writing or until , whichever comes first. This power of attorney shall terminate immediately if I die or become incapacitated.

Reliance by Third Parties

I agree that any third party who receives a copy of this document may act under it. Revocation of the power of attorney is not effective as to a third party until the third party has actual knowledge of the revocation. I agree to indemnify the third party for any claims that arise against the third party because of reliance on this power of attorney.

Principal's Signature

Signature of Principal: ________________________
                                        
Date: ____________________________________

State of ___________, County of ___________________
 

Multiple Selection: [witness options]
Label Contract Text

witnesses will sign

Alternate Selection: [number of witnesses]
Label Contract Text
one witness


Witness's Signature

On the date written above, the principal declared to me that this instrument is his or her financial power of attorney and that he or she willingly executed it as a free and voluntary act. The principal signed this instrument in my presence.

Witness's Signature: ________________________________

Witness's Name:       ________________________________

Witness's Address:   ________________________________

two witnesses

Witnesses' Signatures

On the date written above, the principal declared to us that this instrument is his or her financial power of attorney and that he or she willingly executed it as a free and voluntary act. The principal signed this instrument in our presence.

Witness One

Witness's Signature: ________________________________

Witness's Name:       ________________________________

Witness's Address:   ________________________________

Witness Two

Witness's Signature: ________________________________

Witness's Name:       ________________________________

Witness's Address:   ________________________________

Page Break

 

Multiple Selection
Label Contract Text
attorney-in-fact will sign
Alternate Selection
Label Contract Text
Vermont acknowledgment 

 

 

Acknowledgment of Vermont Agent

 

I accept appointment as agent. I understand my duties under this power of attorney and under the law. I understand that I have a duty to act if expressly required to do so in the power of attorney consistent with subsection 3506(c) of Title 14 of the Vermont Statutes. I understand that I am expected to use my special skills or expertise on behalf of the principal, if the expectation that I do so is expressly provided for in the power of attorney consistent with subdivision 3505(a) of Title 14 of the Vermont Statutes.

Agent's Signature: ___________________________________
Agent's Name: 
Date: __________________

acknowledgment for all other states

 

 

Acknowledgment of Attorney-in-Fact

 

By accepting or acting under the appointment, I assume the fiduciary and other legal responsibilities and liabilities of an agent. I understand that I owe a duty of loyalty and good faith to the principal and must use the powers granted to me only for the benefit of the principal. I acknowledge that my authority to act on behalf of the principal ceases at the death of the principal.

Attorney-in-Fact's Signature: ___________________________________
Attorney-in-Fact's Name: 
Date: ___________________

 

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A power of attorney is a simple, one-page form that gives someone you trust authority to act on your behalf. To complete it, all you need to do is fill in information about you and the person you’re naming as your “attorney-in-fact” or agent. You’ll also spell out the authority you’re granting that person. For example, you could use this limited power of attorney to give authority to:

  • sell your car and sign over the title to the new owner
  • manage specific investments while you’re out of the country
  • sign loan papers for you while you’re in the hospital
  • or any other specific financial task

A power of attorney is a commonly used document, and third parties (the person buying your car, for example) will probably accept it readily. Just in case they’re worried about relying on it, the document contains language (called an indemnification clause) that lets them know they can legally rely on the document.

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