Trustee Power of Attorney
Trustee Power of Attorney
This Power of Attorney ("Agreement") made this [DATE] between [YOUR NAME] of [YOUR COMPANY ADDRESS] hereinafter referred to as the "Grantor", and [TRUSTEE'S NAME] of [TRUSTEE'S ADDRESS] hereinafter referred to as the "Trustee".
I. Purpose
This Trustee Power of Attorney is created to grant authority to the individual identified as the trustee, henceforth referred to as the "Trustee," to manage the affairs and assets of the trust established by the trustor, henceforth referred to as the "Grantor."
II. Roles and Responsibilities of the Trustee
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Asset Management: The Trustee shall have the authority to manage, invest, and reinvest the assets held within the trust, including but not limited to real estate, securities, and tangible personal property, in a manner consistent with the best interests of the trust and its beneficiaries.
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Financial Transactions: The Trustee is authorized to conduct financial transactions on behalf of the trust, including the opening and closing of bank accounts, the deposit and withdrawal of funds, the payment of bills and expenses, and the execution of contracts and agreements necessary for the administration of the trust.
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Legal Representation: The Trustee shall have the authority to retain legal counsel and represent the trust in legal proceedings, including but not limited to litigation, mediation, arbitration, and negotiations, to protect the interests of the trust and its beneficiaries.
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Record Keeping: The Trustee is responsible for maintaining accurate records of all transactions, expenditures, and investments made on behalf of the trust, and shall provide periodic reports to the Grantor and beneficiaries detailing the financial status and performance of the trust.
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Beneficiary Distributions: The Trustee shall have the authority to make distributions of income and principal from the trust to the beneficiaries by the terms of the trust instrument and applicable law, taking into consideration the needs and best interests of the beneficiaries.
III. Signature Section
In witness whereof, the undersigned Grantor hereby grants the aforementioned powers and authority to the Trustee as outlined in this Trustee Power of Attorney.
Grantor:
[YOUR NAME]
Trustee:
[TRUSTEE'S NAME]
WITNESS ACKNOWLEDGEMENT
We, the undersigned witnesses, do hereby attest that the Grantor has executed this Trustee Power of Attorney on the date first above written in our presence.
Witness 1:
[Witness 1 full name]
[Date]
Witness 2:
[Witness 2 full name]
[Date]
NOTARY ACKNOWLEDGEMENT
On this day of in the year , before me, a Notary Public in and for said County and State, personally appeared [Your Name], known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged that they executed the same for the purposes therein contained.
Witness my hand and official seal.
[Notary Public's Name]
My Commission Expires:
