APPLICATION Form FOR Durable Financial Power of Attorney

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Social Security Card Application » Durable Power of Attorney

Durable Power of Attorney Form

A durable power of attorney form is a legal agreement made between two people that grants one person the authority to act on behalf of the other. If you sign this agreement and give someone power of attorney, they will be able to make financial and legal decisions in your place, even in the case that you become mentally unfit to make decisions for yourself.

Entering into a durable power of attorney agreement is a smart way to protect yourself and your interests in the event that you become incapacitated.

Creating a durable power of attorney form is easy at online-application.org. Thanks to our one-click form building tool, you can generate your durable power of attorney form, fill it out, and print it in minutes. Create your power of attorney form now and make sure you, your assets, and your loved ones are protected no matter what happens.

What is a Power of Attorney Form?

A power of attorney form is a binding legal document that gives someone the ability to make decisions on your behalf. These decisions include selling property, managing investments, making insurance claims, running aspects of your business and more.

A power of attorney form is an agreement between the following two people:

The Principal: The person who allows someone to make decisions on his/her behalf.
The Attorney-in-Fact: The person who receives powers from the principal.

All power of attorney forms are not the same. The principal is able to select the powers that he/she wants to give to the attorney-in-fact. For example, you may decide to grant your attorney-in-fact the ability to apply for government benefits for you or your family but not to manage any real estate that you own.

When you grant financial powers to an attorney-in-fact by signing a power of attorney form, your attorney-in-fact is legally obligated to act in your best interests in every decision they make. This makes a power of attorney agreement much safer than letting bankers, agents, or accountants handle your affairs.

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What is a Durable Power of Attorney Form?

A durable power of attorney form is a power of attorney form that is not nullified in the case that you become mentally unfit to make decisions.

By contrast, a normal power of attorney agreement would cease in the case of your incapacitation (for example, if you fell into a coma). A durable power of attorney agreement allows your attorney-in-fact to continue to manage your affairs if you are deemed mentally unfit to do so.

NOTE: Being mentally unfit means that you don’t have the mental capacity to make decisions or that you are unable to communicate. This could occur as a result of a disease, such as Alzheimer’s, or a sudden accident.

Durable power of attorney forms go by several different names. If you’ve been told you need any of the following forms, the durable power of attorney form from online-application.org will be exactly what you need.

General Power of Attorney
Limited Power of Attorney
Springing Power of Attorney
Durable Power of Attorney
Durable Financial Power of Attorney

Why Do You Need a Durable Power of Attorney Form?

Life moves fast, and you never know what might happen from one day to the next. In the case of accident or illness, you need to know that your finances, property, and business affairs will be handled by someone you can trust.

By signing a power of attorney form, you receive the following benefits and protections:

You choose who represents you: If you don’t appoint someone to represent you, anyone could end up making important decisions in your place.
Your attorney-in-fact is bound to your best interests: Your attorney is legally obliged to make decisions based on your best interests. If they fail to do so, they can be sued.
Your family will be protected from predatory agents and investors: Without a knowledgeable attorney-in-fact protecting your assets, predatory real-estate agents and investors will rush convince your family of how to make use of your property.
You will continue to be represented in your business: If you are a business owner or partner, your attorney-in-fact will make sure you don’t get left high and dry.
You will not incur expensive court fees: If you don’t have an attorney-in-fact to act on your behalf in legal matters, the state will appoint someone to do so—and your family will foot the bill.

When do You Need a Durable Power of Attorney Form?

It is always a good idea to have someone you trust ready to handle your affairs if something unexpected happens. If any of the following situations apply to you, it is highly recommended that you sign a durable power of attorney form.

You own property: Your lease agreements, mortgage, insurance payments, and more will all need to be kept up to date even if you are unable to do so.
You own stock or other assets: Letting any volatile assets stagnate could be disastrous to your finances. Appointing someone qualified to act in your interest is essential.
You have insurance: Making payments and collecting insurance benefits is critical for your and your family’s well being, but if you are unable to do so, it will be very difficult to manage your coverage.
You are a business owner: Appointing an attorney-in-fact who understands your business and acts in your interest will protect everything you’ve worked so hard to build.
You are a senior citizen: As you age, you become more at risk of disease and accidents such as falls. Make sure someone is there to protect you when you can’t protect yourself.
You have a history of mental illness: If there’s a chance you may become mentally unable to make decisions, you must name someone you trust to speak on your behalf.
You work in a high-risk environment: Accidents happen. If you have one, you need to know that you’ll come out the other side without facing financial ruin.
You are single and have no adult children: If something happens to you, your attorney-in-fact will continue to pay your taxes, pay your mortgage or rent, maintain your bank accounts, apply for government benefits, and many other things that need frequent attention.
Your family is unable to manage your affairs: When your assets are in the hands of your family, people that they think they can trust may give them bad advice (for example, selling a piece of property for a low price to pay your bills). Your attorney-in-fact will protect your family from these predators.

Protecting yourself and your loved ones from the financial fallout of an accident or disease is one of the most important things in life. With online-application.org’s simple form-filling tool, you can create a durable power of attorney form, complete it, and print it in minutes. With just one form, you can provide yourself and your family with all of the above protections and more.

When does a Durable Power of Attorney Form Go into Effect?

When you create a durable power of attorney form, you can choose when it goes into effect.

You have the following two options:

Immediately: Choosing this option will give your attorney-in-fact all the powers you named at the moment the instrument is signed. Your attorney-in-fact will continue to be able to exercise the given powers if you become unable to do so. While you are mentally fit, you will still be able to do all of the actions that you granted your attorney-in-fact. In other words, when you grant powers of attorney to someone, it does not take away your ability to exercise those powers.
Only if you become unfit: In this case, your attorney-in-fact will not have the ability to exercise any of the powers you granted until a medical professional attests that you are mentally unfit or unable to communicate.

Creating a Durable Power of Attorney Form at online-application.org

Hiring the services of a lawyer and creating your own durable power of attorney form can cost thousands of dollars and take weeks of time.

At online-application.org, you can create a customized durable power of attorney form with all of the information you need for free.

Just follow these simple steps:

Select you state and click “create form” at the top of this page
Add your personal details
Click the powers you’d like to grant to your attorney-in-fact
Generate your form and print

Creating your durable power of attorney form at online-application.org is safe, easy, and takes minutes.

Once you’ve printed your form, you will need to choose an attorney-in-fact that you trust. You may want to generate multiple forms and appoint a few different attorneys-in-fact (one person to handle your personal finances and another to manage your business affairs, for example).

Once you’ve selected your attorney(s)-in-fact, all you need to do is sign the durable power of attorney form in the presence of a notary public and you and your loved ones will be protected and honestly represented for the rest of your life (or until you choose to nullify the power of attorney agreement).

Please Read: Important Legal Information

Many states require certain information to be present in a durable power of attorney form in order for it to be valid. By generating your form at online-application.org, you are ensuring that your durable power of attorney form is legal and binding. If you create your own form or pay an agency to do so, you risk losing all of your protections and benefits when you are most vulnerable.

No durable power of attorney form or power granted within is able to circumvent the law. Any power granted that is not within the laws of your state will be void, though this will apply only to the unlawful power and will not affect the rest of the power of attorney agreement.