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STATUTORY DURABLE POWER OF ATTORNEY
NOTICE: THE POWERS GRANTED BY THIS DOCUMENT ARE BROAD AND
SWEEPING. THEY ARE EXPLAINED IN THE DURABLE POWER OF ATTORNEY
ACT, SUBTITLE P, TITLE 2, ESTATES CODE. IF YOU HAVE ANY QUESTIONS
ABOUT THESE POWERS, OBTAIN COMPETENT LEGAL ADVICE. THIS
DOCUMENT DOES NOT AUTHORIZE ANYONE TO MAKE MEDICAL AND OTHER
HEALTH-CARE DECISIONS FOR YOU. YOU MAY REVOKE THIS POWER OF
ATTORNEY IF YOU LATER WISH TO DO SO. IF YOU WANT YOUR AGENT TO
HAVE THE AUTHORITY TO SIGN HOME EQUITY LOAN DOCUMENTS ON YOUR
BEHALF, THIS POWER OF ATTORNEY MUST BE SIGNED BY YOU AT THE OFFICE
OF THE LENDER, AN ATTORNEY AT LAW, OR A TITLE COMPANY.
You should select someone you trust to serve as your agent. Unless you specify
otherwise, generally the agent’s authority will continue until:
(1) you die or revoke the power of attorney;
(2) your agent resigns, is removed by court order, or is unable to act for you; or
(3) a guardian is appointed for your estate.
I, __________________________________ (insert your name and address), appoint
__________________________________ (insert the name and address of the person
appointed) as my agent to act for me in any lawful way with respect to all of the
following powers that I have initialed below. (YOU MAY APPOINT CO-AGENTS.
UNLESS YOU PROVIDE OTHERWISE, CO-AGENTS MAY ACT INDEPENDENTLY.)
TO GRANT ALL OF THE FOLLOWING POWERS, INITIAL THE LINE IN FRONT OF
(O) AND IGNORE THE LINES IN FRONT OF THE OTHER POWERS LISTED IN (A)
THROUGH (N).
TO GRANT A POWER, YOU MUST INITIAL THE LINE IN FRONT OF THE POWER
YOU ARE GRANTING.
TO WITHHOLD A POWER, DO NOT INITIAL THE LINE IN FRONT OF THE POWER.
YOU MAY, BUT DO NOT NEED TO, CROSS OUT EACH POWER WITHHELD.
_____ (A) Real property transactions;
_____ (B) Tangible personal property transactions;
_____ (C) Stock and bond transactions;
_____ (D) Commodity and option transactions;
_____ (E) Banking and other financial institution transactions;
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_____ (F) Business operating transactions;
_____ (G) Insurance and annuity transactions;
_____ (H) Estate, trust, and other beneficiary transactions;
_____ (I) Claims and litigation;
_____ (J) Personal and family maintenance;
_____ (K) Benefits from social security, Medicare, Medicaid, or other governmental
programs or civil or military service;
_____ (L) Retirement plan transactions;
_____ (M) Tax matters;
_____ (N) Digital assets and the content of an electronic communication;
_____ (O) ALL OF THE POWERS LISTED IN (A) THROUGH (N). YOU DO NOT
HAVE TO INITIAL THE LINE IN FRONT OF ANY OTHER POWER IF YOU INITIAL
LINE (O).
SPECIAL INSTRUCTIONS:
Special instructions applicable to agent compensation (initial in front of one of the
following sentences to have it apply; if no selection is made, each agent will be entitled
to compensation that is reasonable under the circumstances):
____ My agent is entitled to reimbursement of reasonable expenses incurred on my
behalf and to compensation that is reasonable under the circumstances.
____ My agent is entitled to reimbursement of reasonable expenses incurred on my
behalf but shall receive no compensation for serving as my agent.
Special instructions applicable to co-agents (if you have appointed co-agents to act,
initial in front of one of the following sentences to have it apply; if no selection is made,
each agent will be entitled to act independently):
____ Each of my co-agents may act independently for me.
____ My co-agents may act for me only if the co-agents act jointly.
____ My co-agents may act for me only if a majority of the co-agents act jointly.
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Special instructions applicable to gifts (initial in front of the following sentence to have it
apply):
_____ I grant my agent the power to apply my property to make gifts outright to
or for the benefit of a person, including by the exercise of a presently exercisable
general power of appointment held by me, except that the amount of a gift to an
individual may not exceed the amount of annual exclusions allowed from the federal gift
tax for the calendar year of the gift.
ON THE FOLLOWING LINES YOU MAY GIVE SPECIAL INSTRUCTIONS LIMITING
OR EXTENDING THE POWERS GRANTED TO YOUR AGENT.
______________________________________________________________________
______________________________________________________________________
______________________________________________________________________
______________________________________________________________________
______________________________________________________________________
______________________________________________________________________
UNLESS YOU DIRECT OTHERWISE BELOW, THIS POWER OF ATTORNEY IS
EFFECTIVE IMMEDIATELY AND WILL CONTINUE UNTIL IT TERMINATES.
CHOOSE ONE OF THE FOLLOWING ALTERNATIVES BY CROSSING OUT THE
ALTERNATIVE NOT CHOSEN:
(A) This power of attorney is not affected by my subsequent disability or incapacity. (B)
This power of attorney becomes effective upon my disability or incapacity.
YOU SHOULD CHOOSE ALTERNATIVE (A) IF THIS POWER OF ATTORNEY IS TO
BECOME EFFECTIVE ON THE DATE IT IS EXECUTED.
IF NEITHER (A) NOR (B) IS CROSSED OUT, IT WILL BE ASSUMED THAT YOU
CHOSE ALTERNATIVE (A).
If Alternative (B) is chosen and a definition of my disability or incapacity is not contained
in this power of attorney, I shall be considered disabled or incapacitated for purposes of
this power of attorney if a physician certifies in writing at a date later than the date this
power of attorney is executed that, based on the physician's medical examination of me,
I am mentally incapable of managing my financial affairs. I authorize the physician who
examines me for this purpose to disclose my physical or mental condition to another
person for purposes of this power of attorney. A third party who accepts this power of
attorney is fully protected from any action taken under this power of attorney that is
based on the determination made by a physician of my disability or incapacity.
I agree that any third party who receives a copy of this document may act under it.
Termination of this durable power of attorney is not effective as to a third party until the
third party has actual knowledge of the termination. I agree to indemnify the third party
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for any claims that arise against the third party because of reliance on this power of
attorney. The meaning and effect of this durable power of attorney is determined by
Texas law.
If any agent named by me dies, becomes incapacitated, resigns, or refuses to act, or is
removed by court order, or if my marriage to an agent named by me is dissolved by a
court decree of divorce or annulment or is declared void by a court (unless I provided in
this document that the dissolution or declaration does not terminate the agent's authority
to act under this power of attorney), I name the following (each to act alone and
successively, in the order named) as successor(s) to that agent:
__________________________________
Signed this ____ day of __________________,20_____.
__________________________________
(your signature)
State of __________________________________
County of __________________________________
This document was acknowledged before me on __________________,20_____ (date)
by __________________________________ (name of principal).
(Seal, if any, of notary)
__________________________________
(signature of notarial officer)
__________________________________
(print name)
My commission expires: __________________________________
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IMPORTANT INFORMATION FOR AGENT
Agent’s Duties
When you accept the authority granted under this power of attorney, you
establish a “fiduciary” relationship with the principal. This is a special legal relationship
that imposes on you legal duties that continue until you resign or the power of attorney
is terminated, suspended or revoked by the principal or by operation of law. A fiduciary
duty generally includes the duty to:
(1) act in good faith;
(2) do nothing beyond the authority granted in this power of attorney;
(3) act loyally for the principal’s benefit;
(4) avoid conflicts that would impair your ability to act in the principal’s best interest;
and
(5) disclose your identity as an agent when 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
In addition, the Durable Power of Attorney Act (Subtitle P, Title 2, Estates Code)
requires you to:
(1) maintain records for each action taken or decision made on behalf of the
principal;
(2) maintain all records until delivered to the principal, released by the principal, or
discharged by a court; and
(3) if requested by the principal, provide an accounting to the principal that, unless
directed by the principal or otherwise provided in the Special Instructions, must include:
(A) the property belonging to the principal that has come to your knowledge or into
your possession;
(B) each action taken or decision made by you as agent;
(C) a complete account of receipts, disbursements, and other actions of you as agent
that includes the source and nature of each receipt, disbursement or action, with
receipts of principal and income shown separately;
(D) a listing of all property over which you have exercised control that includes an
adequate description of each asset and the asset’s current value, if known to you;
(E) the cash balance on hand and the name and location of the depository at which
the cash balance is kept;
(F) each known liability;
(G) any other information and facts known to you as necessary for a full and definite
understanding of the exact condition of the property belonging to the principal; and
(H) all documentation regarding the principal’s property.
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Termination of Agent’s Authority
You must stop acting on behalf of the principal if you learn or any event that
terminates or suspends this power of attorney or your authority under this power of
attorney. An event that terminates this power of attorney or your authority to act under
this power of attorney includes:
(1) the principal’s death;
(2) the principal’s revocation of this power of attorney or your authority;
(3) the occurrence of a termination event stated in this power of attorney;
(4) if you are married to the principal, the dissolution of your marriage by court
decree of divorce or annulment or declaration that your marriage is void, unless
otherwise provided in this power of attorney;
(5) the appointment and qualification of a permanent guardian of the principal’s
estate unless a court order provides otherwise; or
(6) if ordered by a court, your removal as agent (attorney in fact) under this power of
attorney. An event that suspends this power of attorney is the appointment and
qualification of a temporary guardian unless a court order provides otherwise.
Liability of the Agent
The authority granted to you under this power of attorney is specified in the
Durable Power of Attorney Act (Subtitle P, Title 2, Estates Code). If you violate the
Durable Power of Attorney Act or act beyond the authority granted, you may be liable
for any damages caused by the violation or subject to prosecution for misapplication of
property by a fiduciary under Chapter 32 of the Texas Penal Code.
THE AGENT, BY ACCEPTING OR ACTING UNDER THE APPOINTMENT,
ASSUMES THE FIDUCIARY AND OTHER LEGAL RESPONSIBILITIES OF AN
AGENT.
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