Alabama Financial Power of Attorney form governed under Alabama Uniform Power of Attorney Act, Chapter 1A, Title 26, Code of Alabama 1975 is an authorized document which allows the taxpayer to grant power to a representative to perform any kind of financial proceedings on the behalf. However, this form is strictly confined to confer power over financial decisions alone and any kind of medical/personal decisions are out of the domain.
In spite of rendering the document, you still will be able to haft all your financial affairs. Before executing the document, you and your agent must go through the form and get a clear synopsis of the form before a Notary public in order to understand the responsibilities that come along with the provisions. In case, if your delegated agent is not willing to act in specific situations, you will also have to provide two successors agents who will be given power, consecutively. All three of these representatives must accede to the form with their presence before the signatory. On the other hand, in cases of conflict, if the court has to appoint a guardian of your estate, you should also provide a nominee for cogitation.
How to Fill the Alabama Financial Power of Attorney Form
Steps to Sign a Alabama Financial Power of Attorney form
Part 1: The first part of the form contains two sections titled as Designation of agent and Designation of successor agents. In this section, you have to mention the details of your representative such as name, address and telephone number. As mentioned above, if your agent is not willing to act, your successor agent will receive the responsibility to make financial decisions. You can always have two successor agents and both of them are entirely optional.
Part 2: The second part of the form also contains two sections categorized as “Grant of general authority” and “Grant of special authority (Which is optional). In the first section, you will be given two options i.e; either to grant authority over all the enumerated subjects or to be specific about which subject you want to be included in the authority. If you go with the first one, you can simply sign under the ‘Signature of Principal’ area. If you chose to be specific, you should initial by each section you want to be constituted. The second section is optional, where your agent may not do the acts that are listed until unless you have initialized them.
Part 3: The third part of the form is designed with four different sections.
- Limitations on Agent’s authority: This is to limit the power from getting benefitted by your property. Just read them carefully, to know about the implementation of power
- Special Instructions: In case, if you want to add further boundaries, you can mention them in this section.
- Effective Date: Here, you have to enter the date from which the form is to be executed.
- Nomination of conservator: As mentioned above, here you have to enter the details of the nominee such as the name, address and the telephone number.
Part 4: The last part of the Alabama Financial Power of Attorney form is all about “Signature and Acknowledgement”. Here, you have to enter details like your name, signature date, address, telephone number, state county and you should request the Notary public to attest along with his credentials. In case you want to revoke the form, you must execute a revocation document carried out in a similar form.