Enduring / Lasting / Continuing / Durable Power of Attorney

The document titled 'Enduring / Lasting / Continuing / Durable Power of Attorney' is a legal instrument that grants authority to an appointed attorney to make financial decisions on behalf of the donor. The importance of this document lies in its ability to ensure that the donor's financial affairs are properly managed and decisions are made in their best interest.

 

The entire document consists of several sections that provide detailed information and instructions. The first section revokes any previous power of attorney and appoints the attorney as the donor's true and lawful representative. It authorizes the attorney to perform various financial tasks such as managing bank accounts, claiming benefits, paying bills, making investments, and buying or selling property.

 

If the donor chooses to include general instructions, the document specifies the attorney's authority to act on their behalf in relation to specific property or financial affairs. It also allows for the inclusion of conditions and restrictions, if desired.

 

In case the donor wants the attorney to notify certain individuals before applying for the registration of the power of attorney, there is a provision for that as well. The document also addresses the issue of mental capacity, stating whether the power of attorney is only valid when the donor lacks mental capacity or if it remains valid even if the donor becomes mentally incapable.

 

Additionally, the document includes an indemnity clause, where the donor undertakes to indemnify the attorney and their agents against any actions, claims, costs, and liabilities arising from the exercise of the powers conferred by the power of attorney.

 

The document is governed by the laws of the jurisdiction country and requires the signatures of the donor, witnesses, and, if necessary, a registered medical practitioner or solicitor. The witnesses must not be the donor, and their names and addresses should be provided.

 

In summary, the 'Enduring / Lasting / Continuing / Durable Power of Attorney' is a comprehensive legal document that grants financial decision-making authority to an appointed attorney, ensuring the proper management of the donor's financial affairs.

How to use this document?

To effectively use the 'Enduring / Lasting / Continuing / Durable Power of Attorney' document, follow these steps:

1. Revocation and Appointment: Clearly state the revocation of any previous power of attorney and appoint the chosen attorney as the donor's representative. Provide the attorney's name, identification number, and address.

2. Specify Financial Authority: Clearly describe the financial tasks that the attorney is authorized to perform on behalf of the donor. This includes managing bank accounts, claiming benefits, paying bills, making investments, and buying or selling property.

3. General Instructions (Optional): If desired, specify the attorney's authority in relation to specific property or financial affairs. This section allows for customization based on the donor's preferences.

4. Conditions and Restrictions (Optional): If there are any specific conditions or restrictions that the attorney must adhere to, clearly state them in this section.

5. Notification (Optional): If the attorney is required to notify certain individuals before applying for the registration of the power of attorney, provide their details in this section.

6. Mental Capacity: Determine whether the power of attorney is only valid when the donor lacks mental capacity or if it remains valid even if the donor becomes mentally incapable. Clearly state the chosen option.

7. Indemnity Clause (Optional): If the donor wishes to provide an indemnity to the attorney and their agents, include this clause and specify the scope of indemnification.

8. Governing Laws: Specify that the document is governed by the laws of the jurisdiction country.

9. Signatures and Witnesses: Ensure that the document is signed by the donor, witnesses, and, if necessary, a registered medical practitioner or solicitor. The witnesses must not be the donor, and their names and addresses should be provided.

By following these steps, you can effectively utilize the 'Enduring / Lasting / Continuing / Durable Power of Attorney' document to grant financial decision-making authority to the chosen attorney and ensure the proper management of the donor's financial affairs.