A legal document in which you name an individual or entity to act as your agent and attorney on your behalf should you be unable to do so in the future, a Durable Power of Attorney carries on until your death and is not affected in any manner by future illness, disability, physical, or mental incapacity of any kind.
A Durable Power of Attorney allows your agent and attorney to act on your behalf in the following areas:
- The purchase or selling of real, personal, or mixed property; including the execution of any necessary contracts, mortgages, deeds, etc.
- The preparation of any and all federal, state, and local income or other tax returns.
- The ability to receive or deposit funds, make investments and transfers to your accounts at any bank, brokerage house, or other financial institution; to deposit, withdraw, or remove any contents from a safe deposit box; as well as purchase or sell any US Treasury Securities or US Bonds.
- The purchase, sale, assignment, transfer, or set over any and all shares of stock and certificates with companies, corporations, associations, or organizations; including the receipt and endorsement of any dividends checks associated therein.
- The institution or defense of any lawsuit, either at the local, state, or federal level; including negotiation, arbitration, or acceptance of settlement in said lawsuit.
- The admittance into a hospital or personal care facility and utilization of funds to pay for the same.
Any clause distinctly not limiting the powers of the agent and attorney in fact, but allowing them full, complete, universal and general power of attorney with reference to any and all matters and affairs of whatever kind or nature, and to any and all property, real, personal or mixed, which you may now own or have an interest or may hereafter acquire.