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General Durable Power Of Attorney For Property And Finances Effective Immediately (Alabama) POA-AL 100 - Legal Forms
| General Durable Power Of Attorney For Property And Finances Effective Immediately (Alabama) Form. This is a Legal Forms form and can be used in General Power Of Attorney . |
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ALABAMA DURABLE POWER OF ATTORNEY Pursuant to Alabama Code-Title 26 Section 26-1-2.1 This power of attorney shall not be affected by disability, incompetency, or incapacity of the principal. NOTICE: THE POWERS GRANTED BY THIS DOCUMENT ARE BROAD AND SWEEPING. THEY ARE EXPLAINED IN THE DURABLE POWER OF ATTORNEY ACT. 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. KNOW ALL MEN BY THESE PRESENTS: I, [insert your name and address] appoint [insert the name and address of the person to be appointed] do hereby appoint, and constitute as my Agent (attorney-in-fact). My agent shall have full authority and power to perform any act, power, duty, legal right or obligation whatsoever that I now have or may later acquire in connection with or relating to any person, item, transaction, things, business, property, real and personal, tangible or intangible, or matter whatsoever as I could do if personally present. I hereby ratify and confirm all acts that my agent's substitute or substitutes, shall lawfully do or cease to be done by virtue of this power of attorney and the rights hereby granted. My agent's powers and authority shall include, but not limited to: Note: If you initial Item A or Item B, which follow, a notarized signature will be required on behalf of the Principal. (A) Real property transactions Sell, convey, lease, mortgage, 1. manage, insure, improve, repair, or perform any other act with respect to any of my property (now owned or later acquired) including, but not limited to, real estate and real estate rights (including the right to remove tenants and to recover possession). This includes the right to sell or encumber any homestead that I now own or may own in the future. (B) Tangible personal property transactions. To lease, sell, 2. mortgage, purchase, exchange, and acquire, and to agree, bargain, and contract for the lease, sale, purchase, exchange, and acquisition of, and to accept, take, receive, and possess any personal property whatsoever, tangible or intangible, or interest thereto, on such terms and conditions, and under such covenants, as my Agent shall deem proper; and to maintain, repair, improve, manage, insure, rent, lease, sell, convey, subject to liens or mortgages, or to take any other security interests in said property which are recognized under the Uniform Commercial Code as adopted at that time under the laws of the State of Alabama or any applicable state, or otherwise hypothecate (pledge), and in any way or manner deal with all or any part of any real or personal property whatsoever, tangible or intangible, or any interest therein, that I own at the time of execution or may thereafter acquire, under such terms and conditions, and under such covenants, as my Agent shall deem proper. 3. (C) Stock and bond transactions: Exercise all stock rights on my behalf as my proxy, including all rights with respect to stocks, bonds, debentures, or other investments. 4. (D) Commodity and option transactions. To buy, sell, exchange, assign, convey, settle and exercise commodities futures contracts and call and put options on stocks and stock indices traded on a regulated options exchange and collect and receipt for all proceeds of any such transactions; establish or continue option accounts for the principal with any securities or futures broker; and, in general, exercise all powers with respect to commodities and options which the principal could if present and under no disability. 5. (E) Banking and other financial institution transactions. Open, maintain or close bank accounts (including, but not limited to, checking accounts, savings accounts, and certificates of deposit), brokerage accounts, retirement plan accounts, and other similar accounts with financial institutions. To engage in and actively transact any and all lawful business of whatever nature or kind for me and in my name. 6. (F) Insurance and annuity transactions. Purchase and/or maintain insurance, including life insurance upon my life or the life of any other appropriate person. 7. (G) Personal and family maintenance. Make gifts from my assets to members of my family and to such other persons or charitable organizations with whom I have an established pattern of giving. However, my Agent may not make gifts of my property to the Agent. I , of , appoint , , as my substitute Agent for the sole purpose of making gifts of my property to my Agent, as appropriate. 8. (H) Estate, trust, and other beneficiary transactions. Transfer any of my assets to the trustee of any revocable trust created by me, if such trust is in existence at the time of such transfer. To exercise any powers and duties vested in me, whether solely or jointly, with any other or others as executor, administrator, or trustee, or in any other fiduciary capacity so far as such power or duty is capable of validly being delegated. Disclaim any interest which might otherwise be transferred or distributed to me from any other person, estate, trust, or other entity, as may be appropriate. 9. (I) Claims and litigation. To commence, prosecute, discontinue, or defend all actions or other legal proceedings touching my property, real or personal, or any part thereof, or touching any matter in which I or my property, real or personal, may be in any way concerned. To defend, settle, adjust, make allowances, compound, submit to arbitration, and compromise all accounts, reckonings, claims, and demands whatsoever that now are, or hereafter shall be, pending between me and any person, firm, corporation, or other legal entity, in such manner and in all respects as my Agent shall deem proper. (J) Benefits from Social Security, Medicare, Medicaid, or 10. other governmental programs, or military service. To prepare, sign and file any claim or application for Social Security, unemployment or military service benefits; sue for, settle or abandon any claims to any benefit or assistance under any federal, state, local or foreign statute or regulation; control, deposit to any account, collect, receipt for, and take title to and hold all benefits under any Social Security, unemployment, military service or other state, federal, local or foreign statute or regulation; and, in general, exercise all powers with respect to Social Security, unemployment, military service, and govern
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