This Alabama Durable Power of Attorney is used when you want to appoint someone else (agent) to make decisions concerning your property (principal). This Power of Attorney is effective immediately unless you have stated in the special instructions. Your agent would be authorized to make decisions regarding your property, money etc whether or not you are able to act for yourself.
How to Fill the Alabama Durable Power of Attorney
The declaration on the agreement states that; In accordance with the Alabama Uniform Power of Attorney Act, Chapter 1A, Title 26, Code of Alabama 1975, you certify the given agent has the power to taken decision for you in matters of bills, money, real estate, loans, taxes etc., but they do not have the authority to take any decisions in relation with your health care matters.
You can assign more than one agent, in case if they are unable or unwilling to act by mentioning your name followed by the primary agent’s full and legal name (first, middle, last) along with their complete address and zip code. Then you can mention the successor agent’s details and at your free will you also mentioned a third successor’s details.
Next what kind of authority needs to be given needs to be specified. If the agent or agents are to be granted general authority then the principal needs to sign below the same or else if the agent or agents are to be given limited authority or power then in that case the same needs to be specified and the initials of the principal or the taxpayer needs to be placed next to each power that is granted to them.
In this section, the limitations on the agent in regards to their authority is explained followed by any special instructions that the principal wants to note down, should be specified. After that, if out of necessity a guardian is required for the principal’s property and belongings, then in such a case, the individual nominated by the principal needs to be mentioned with the details of that individual.
Lastly, the signature and acknowledge from the principal is required followed by their full name, address and phone number. This document also needs to be notarized by the Notary Public for it to be considered legal at America ferrera.
ALABAMA POWER OF ATTORNEY FORM
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 on this form is explained in the Alabama Uniform Power of Attorney Act, Chapter 1A, Title 26, Code of Alabama 1975.
This power of attorney does not authorize the agent to make health care decisions for you. Such powers are governed by other applicable law.
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 reimbursement of reasonable expenses and reasonable compensation unless you state otherwise in the Special Instructions.
This form provides for designation of one agent. If you wish to name more than one agent, you may name a co-agent in the Special Instructions. Co–agents are not required to act together unless you include that requirement in the Special Instructions.
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 in the Special Instructions.
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.
DESIGNATION OF AGENT
I, __________________________ , (Name of Principal) name the following person as my agent:
Name of Agent:__________________________
Agent’s Telephone Number:__________________________
DESIGNATION OF SUCCESSOR AGENT(S)(OPTIONAL)
If my agent is unable or unwilling to act for me, I name as my successor agent:
Name of Successor Agent:__________________________
Successor Agent’s Address:__________________________
Successor Agent’s Telephone Number:__________
If my successor agent is unable or unwilling to act for me, I name as my second successor agent:
Name of Second Successor Agent:________________
Second Successor Agent’s Address:________________
Second Successor Agent’s Telephone Number:__________
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 Alabama Uniform Power of Attorney Act, Chapter 1A, Title 26, Code of Alabama 1975:
If you wish to grant general authority over all of the subjects enumerated in this section you may SIGN here:
(Signature of Principal)
If you wish to grant specific authority over less than all subjects enumerated in this section you must INITIAL by each subject you want to include in the agent’s authority:
______Real Property as defined in Section 26–1A–204
______Tangible Personal Property as defined in Section 26–1A–205
______Stocks and Bonds as defined in Section 26–1A–206
______Commodities and Options as defined in Section 26–1A–207
______Banks and Other Financial Institutions as defined in Section 26–1A–208
______Operation of Entity or Business as defined in Section 26–1A–209
______Insurance and Annuities as defined in Section 26–1A–210
______Estates, Trusts, and Other Beneficial Interests as defined in Section 26–1A–211
______Claims and Litigation as defined in Section 26–1A–212
______Personal and Family Maintenance as defined in Section 26–1A–213
______Benefits from Governmental Programs or Civil or Military Service as defined in Section 26–1A–214
______Retirement Plans as defined in Section 26–1A–215
______Taxes as defined in Section 26–1A–216
______Gifts as defined in Section 26–1A–217
GRANT OF SPECIFIC AUTHORITY (OPTIONAL)
My agent MAY NOT do any of the following specific acts for me UNLESS I have INITIALED the specific authority listed below:
(CAUTION: Granting any of the following 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. INITIAL the specific authority you WANT to give your agent.)
______Create, amend, revoke, or terminate an inter vivos trust, by trust or applicable law
______Make a gift to which exceeds the monetary limitations of Section 26–1A–217 of the Alabama Uniform
Power of Attorney Act, but subject to any special instructions in this power of attorney
______Create or change rights of survivorship
______Create or change a beneficiary designation
______Authorize another person to exercise the authority granted under this power of attorney
______Waive the principal’s right to be a beneficiary of a joint and survivor annuity, including a survivor benefit under a retirement plan
______Exercise fiduciary powers that the principal has authority to delegate
LIMITATIONS 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.
Limitation of Power. Except for any special instructions given herein to the agent to make gifts, the following shall apply:
(a) Any power or authority granted to my Agent herein shall be limited so as to prevent this Power of Attorney from causing any Agent to be taxed on my income or from causing my assets to be subject to a “general power of appointment” by my Agent as defined in 26 U.S.C. § 2041 and 26 U.S.C. § 2514 of the Internal Revenue Code of 1986, as amended.
(b) My Agent shall have no power or authority whatsoever with respect to any policy of insurance owned by me on the life of my Agent, or any trust created by my Agent as to which I am a trustee.
SPECIAL INSTRUCTIONS (OPTIONAL)
You may give special instructions on the following lines. For your protection, if there are no special instructions write NONE in this section.
This power of attorney is effective immediately unless I have stated otherwise in the Special Instructions.
NOMINATION OF [CONSERVATOR OR GUARDIAN] (OPTIONAL)
If it becomes necessary for a court to appoint a [conservator or guardian] of my estate or [guardian] of my person, I nominate the following person(s) for appointment:
Name of Nominee for [conservator or guardian] of my estate:__________________________
Nominee’s Telephone Number:________________
Name of Nominee for [guardian] of my person: ______________________________
Nominee’s Address: _______________________ Nominee’s Telephone Number: ________________
RELIANCE ON 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.
SIGNATURE AND ACKNOWLEDGMENT _______________________________________________
(Signature of Principal)
Your Signature Date:________________
Your Name Printed:________________
Your Telephone Number:________________
I, ____________________________, a Notary Public, in and for the County or state, hereby certify that________________________, whose name is signed to the foregoing document, and who is known to me, acknowledged before me on this day that, being informed of the contents of the document, he or she executed the same voluntarily on the day the same bears date.
Given under my hand this the ___ day of ______, 2___. ____________________________________(Seal, if any) Signature of Notary
My commission expires: ______________________________
This document prepared by:
IMPORTANT INFORMATION FOR AGENT
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 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; and
(4) 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 Special Instructions 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; and
(6) 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.
Termination of Agent’s Authority
You must stop acting on behalf of the principal if you learn of any event that terminates 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 authority;
(3) the occurrence of a termination event stated in the power of attorney;
(4) the purpose of the power of attorney is fully accomplished; or
(5) if you are married to the principal, a 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 Alabama Uniform Power of Attorney Act, Chapter 1A,
Title 26, Code of Alabama 1975. If you violate the Alabama Uniform Power of Attorney Act, Chapter 1A, Title 26, Code of Alabama 1975, 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.